GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

The changes in goodwill included in the core banking segment during the six month periods ended June 30, 2021 and 2020 were as follows (in thousands):

	2021		2020
Beginning of year	$	21,824	$	21,824
Acquired goodwill	—		—
Ending balance June 30,	$	21,824	$	21,824

Acquired intangible assets were as follows at June 30, 2021 and December 31, 2020 (in thousands):

	At June 30, 2021				At December 31, 2020
	Balance Acquired		Accumulated Amortization		Balance Acquired		Accumulated Amortization
Core deposit intangibles	$	5,975	$	5,975	$	5,975	$	5,962
Other customer relationship intangibles	5,633		5,565		5,633		5,388
Total	$	11,608	$	11,540	$	11,608	$	11,350

Aggregate amortization expense was $0.1 million for the three month periods ended June 30, 2021 and 2020. Aggregate amortization expense was $0.2 million and $0.3 millions for the six month periods ended June 30, 2021 and 2020, respectively.

The remaining estimated aggregate amortization expense at June 30, 2021 is listed below (in thousands):

Year	Estimated Expense
2021	$	68
Total	$	68

The amount of goodwill reflected in the Corporation's Unaudited Consolidated Financial statements is required to be tested by management for impairment on at least an annual basis. The test for impairment of goodwill on the identified reporting unit is considered a critical accounting estimate because it requires judgement on the part of management and the use of estimates relate to the growth assumptions and market multiples used in the valuation model. Goodwill impairment testing is performed annually as of December 31 and no impairment charges were incurred.