Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2012

Goodwill and Intangible Assets [Abstract]

Schedule of changes in goodwill

The changes in goodwill included in the core banking segment during the periods ending September 30, 2012 and 2011 were as follows:

	2012			2011
Beginning of year	$	21,983,617		$	9,872,375
Acquired goodwill		-			12,284,838
Adjustment of Acquired goodwill (1)		(159,174	)		-
September 30,	$	21,824,443		$	22,157,213
(1) Adjustment related to Fort Orange Financial Corp. acquisition

Schedule of acquired finite-lived intangible assets by major class

Acquired intangible assets were as follows at September 30, 2012 and December 31, 2011:

	At September 30, 2012				At December 31, 2011
	Balance Acquired		Accumulated Amortization		Balance Acquired		Accumulated Amortization
Core deposit intangibles	$	3,819,798	$	1,655,826	$	3,819,798	$	1,213,118
Other customer relationship intangibles		6,063,423		2,845,113		6,063,423		2,479,563
Total	$	9,883,221	$	4,500,939	$	9,883,221	$	3,692,681

Schedule of expected amortization expense

The remaining estimated aggregate amortization expense at September 30, 2012 is listed below:

Year	Estimated Expense
2012	$	238,462
2013		876,524
2014		777,801
2015		681,176
2016		607,713
2017 and thereafter		2,200,606
Total	$	5,382,282