GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Dec. 31, 2022

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES

NOTE 5.           GOODWILL AND OTHER INTANGIBLES

The activity impacting goodwill in 2022 and 2021 is as follows:

(in thousands)	2022		2021
Balance at beginning of year	$	119,477	$	119,477
Acquisition		—		—
Balance at end of year	$	119,477	$	119,477

In the fourth quarter of 2022, we completed annual goodwill impairment testing using balance sheet and market data as of September 30, 2022. The analysis was performed at the consolidated Bank level, which is considered the smallest reporting unit carrying goodwill. No goodwill impairment was recognized for the years ended December 31, 2022, 2021 and 2020.  

The components of other intangible assets in 2022 and 2021 are as follows:

	2022
	Gross		Accumulated		Net Intangible
(in thousands)	Intangible Assets		Amortization		Assets
Core deposit intangible (non-maturity deposits)	$	9,483	$	(4,948)	$	4,535
Customer list and other intangibles		2,118		(852)		1,266
Total	$	11,601	$	(5,800)	$	5,801

	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

Other intangible assets are amortized on a straight-line basis over their estimated lives, which range from five years to 11 years. Amortization expenses related to intangibles totaled $932 thousand in 2022, $940 thousand in 2021 and $1.0 million in 2020.

The estimated aggregate future amortization expense for other intangible assets remaining at year end 2022 is as follows:

	Other Intangible
(in thousands)	Assets
2023	$	932
2024		932
2025		932
2026		932
2027		932
and thereafter		1,141
Total	$	5,801