Goodwill, Core Deposit And Trust Relationship Intangibles

9 Months Ended

Sep. 30, 2012

Goodwill, Core Deposit And Trust Relationship Intangibles

NOTE 5 – GOODWILL, CORE DEPOSIT AND TRUST RELATIONSHIP INTANGIBLES

The Company has recognized goodwill and certain identifiable intangible assets in connection with certain acquisitions of other businesses in prior years. The changes in goodwill, core deposit intangible and trust relationship intangible for the nine months ended September 30, 2012 are shown in the table below:

	Goodwill
	Banking		Financial Services			Total
Balance at December 31, 2011	$	34,720	$	7,010		$	41,730
2012 sale of portion of business unit		—		(276	)		(276	)
Balance at September 30, 2012	$	34,720	$	6,734		$	41,454

During the first quarter of 2012, the Company entered into a service agreement to sell the employee benefits portion of its financial services business unit to Guidance Point Retirement Services, LLC, resulting in a reduction in goodwill and an increase in accounts receivable of $276,000.

	Core Deposit Intangible								Trust Relationship Intangible
	Total		Accumulated Amortization			Net			Total		Accumulated Amortization			Net
Balance at December 31, 2011	$	14,444	$	(11,432	)	$	3,012		$	753	$	(301	)	$	452
2012 amortization		—		(376	)		(376	)		—		(57	)		(57	)
Balance at September 30, 2012	$	14,444	$	(11,808	)	$	2,636		$	753	$	(358	)	$	395

The following table reflects the expected amortization schedule for intangible assets at September 30, 2012:

	Core Deposit		Trust Relationship
	Intangible		Intangible
2012	$	125	$	19
2013		502		75
2014		502		75
2015		502		75
2016		502		75
Thereafter		503		76
Total unamortized intangible	$	2,636	$	395

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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