XML 34 R17.htm IDEA: XBRL DOCUMENT v3.20.4
Goodwill And Other Intangible Assets
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
The Company completed its annual assessment of the carrying value of goodwill during 2020 and concluded that its carrying value was not impaired. The Company's reporting unit had positive equity and a qualitative assessment was completed, indicating that it was not more likely than not that goodwill was impaired. The following table presents a roll forward of the Company's goodwill activity (in thousands):

20202019
Beginning balance$108,941 $109,567 
Goodwill and adjustments acquired in conjunction with the acquisition of Poage— (583)
Goodwill and adjustments acquired in conjunction with the acquisition of Farmers Deposit— (43)
Ending balance$108,941 $108,941 

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):
20202019
Gross carrying amount$21,190 $21,190 
Accumulated amortization
(11,539)(9,890)
$9,651 $11,300 
Beginning balance$11,300 $13,281 
Amortization expense(1,649)(1,981)
Ending balance$9,651 $11,300 
The core deposit intangibles are being amortized over 10 years. The estimated amortization expense for core deposit intangible assets for each of the next five years is as follows (in thousands):
2021$1,472 
20221,386 
20231,220 
20241,209 
20251,185 
Thereafter
3,179 
$9,651