Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2021

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

Note 6 – Goodwill and Other Intangible Assets

The following table provides the gross carrying value and accumulated amortization of intangible assets as of September 30, 2021 and December 31, 2020 (in thousands):

	September 30, 2021							December 31, 2020
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
MSRs	$	2,513	$	(1,335	)	$	1,178	$	2,153	$	(1,131	)	$	1,022
Core deposit intangibles		1,943		(1,444	)		499		1,943		(1,297	)		646
Total amortized intangible assets	$	4,456	$	(2,779	)	$	1,677	$	4,096	$	(2,428	)	$	1,668
Unamortized intangible assets:
Goodwill	$	31,376						$	31,376

(1) Excludes fully amortized intangible assets

The following table provides the current year and estimated future amortization expense for amortized intangible assets for the next five years (in thousands). We based our projections of amortization expense shown below on existing asset balances at September 30, 2021. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Total
Three months ended September 30, 2021 (actual)	$	65	$	49	$	114
Nine months ended September 30, 2021 (actual)		204		147		351
Three months ended September 30, 2020 (actual)		46		57		103
Nine months ended September 30, 2020 (actual)		144		162		306
Estimate for year ending December 31,
Remaining 2021		81		45		126
2022		289		156		445
2023		230		121		351
2024		181		85		266
2025		137		50		187
Thereafter		260		42		302
Total	$	1,178	$	499	$	1,677