GOODWILL AND OTHER INTANGIBLE ASSETS

The Company completed its annual assessment of the carrying value of goodwill during 2018 and concluded that its carrying value was not impaired. The following table presents a roll forward of the Company's goodwill activity (in thousands):



	2018		2017

Beginning balance	$	76,196	$	76,196
Goodwill acquired in conjunction with the acquisition of Poage (preliminary)	28,633		—
Goodwill acquired in conjunction with the acquisition of Farmers Deposit (preliminary)	4,738		—
Ending balance	$	109,567	$	76,196

The Company believes that the customer relationships with the deposits acquired have an intangible value. In connection with acquisitions, the Company recorded a core deposit intangible, which represented the value that the acquiree had with their deposit customers. The fair value was estimated based on a discounted cash flow methodology that considered the type of deposit, estimated deposit retention, the cost of the deposit base and an alternate cost of funds. The following tables present the details of the Company's core deposit intangibles (in thousands):



	2018			2017

Gross carrying amount	$	21,190		$	9,802
Accumulated amortization	(7,909		)	(7,403		)
	$	13,281		$	2,399

Beginning balance	$	2,399		$	2,939
Core deposit intangible acquired in conjunction with the acquisition of Poage	8,054			—
Core deposit intangible acquired in conjunction with the acquisition of Farmers Deposit	3,334			—
Amortization expense	(506		)	(540		)
Ending balance	$	13,281		$	2,399

The core deposit intangible amortization expense for the year ended December 31, 2018 was $0.5 million. The core deposit intangibles are being amortized over ten years. The estimated amortization expense for core deposit intangible assets for each of the next five years is as follows (in thousands):



2019	$	1,868
2020	1,697
2021	1,635
2022	1,515
2023	1,311
Thereafter	5,255
	$	13,281