Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Note 7 - Goodwill and Other Intangible Assets

A goodwill impairment test is required under ASC 350, Intangibles – Goodwill and Other, and the FASB issued ASU No. 2011-08, “Testing Goodwill for Impairment,” allowing an initial qualitative assessment of goodwill commonly known as step zero impairment testing. In general, the step zero test allows an entity to first assess qualitative factors to determine whether it is more likely than not (i.e., more than 50%) that the fair value of a reporting unit is less than its carrying value. If a step zero impairment test results in the conclusion that it is more likely than not that the fair value of the reporting unit exceeds its carrying value, then no further testing is required.

Step zero impairment testing is an assessment of qualitative factors that affect the likelihood of impairment. Based upon management’s review, the Company’s intangible assets were not impaired and there has been no impairment through December 31, 2017. Management concludes that the ASC 350 goodwill step zero test has been passed, and no further testing is required.

Goodwill

The change in goodwill during the year is as follows:

	2017		2016
	(dollars in thousands)
Balance, January 1	$	145,909	$	145,909
Acquired goodwill		-		-
Impairment		-		-
Balance, December 31,	$	145,909	$	145,909

Acquired Intangible Assets

The table below provides information regarding the carrying amounts and accumulated amortization of total amortized intangible assets as of the dates set forth below. 

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(dollars in thousands)
As of December 31, 2017:
Core deposit intangibles	$	6,011	$	(3,647)	$	2,364
As of December 31, 2016:
Core deposit intangibles	$	6,011	$	(2,923)	$	3,088

Aggregate amortization expense was $724,000, $820,000 and $917,000 for 2017, 2016 and 2015, respectively. Estimated amortization expense for each of the next five years (dollars in thousands):

2018	$	627
2019		531
2020		434
2021		338
2022		241