GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Dec. 31, 2021

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES

NOTE 5.           GOODWILL AND OTHER INTANGIBLES

The activity impacting goodwill in 2021 and 2020 is as follows:

(in thousands)	2021		2020
Balance at beginning of year	$	119,477	$	118,649
Acquisition		—		828
Balance at end of year	$	119,477	$	119,477

In the fourth quarter of 2021, the Company completed its annual goodwill impairment testing using balance sheet and market data as of September 30, 2021. The analysis was performed at the consolidated Bank level of the Company, which is considered the smallest reporting unit carrying goodwill. The step one analysis under the guidance of ASC 350 was passed, and therefore no goodwill impairment was recognized for the year ended December 31, 2021.  No impairment was recorded in 2020 and 2019.

The components of other intangible assets in 2021 and 2020 are as follows:

	2021
	Gross		Accumulated		Net Intangible
(in thousands)	Intangible Assets		Amortization		Assets
Core deposit intangible (non-maturity deposits)	$	9,483	$	(4,210)	$	5,273
Customer list and other intangibles		2,118		(658)		1,460
Total	$	11,601	$	(4,868)	$	6,733

	2020
	Gross		Accumulated		Net Intangible
(in thousands)	Intangible Assets		Amortization		Assets
Core deposit intangible (non-maturity deposits)	$	9,483	$	(3,465)	$	6,018
Customer list and other intangibles		2,118		(466)		1,652
Total	$	11,601	$	(3,931)	$	7,670

Other intangible assets are amortized on a straight-line basis over their estimated lives, which range from 5 years to 11 years. Amortization expenses related to intangibles totaled $940 thousand in 2021, $1.0 million in 2020 and $861 thousand in 2019.

The estimated aggregate future amortization expense for other intangible assets remaining at year end 2021 is as follows:

	Other Intangible
(in thousands)	Assets
2022	$	932
2023		932
2024		932
2025		932
2026		932
and thereafter		2,073
Total	$	6,733