Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Other Intangible Assets [Abstract]

8. Goodwill and Other Intangible Assets

A summary of goodwill is as follows:

(In thousands)
January 1, 2022	$	280,541
Goodwill acquired		663
December 31, 2022	$	281,204

January 1, 2021	$	280,541
Goodwill acquired		-
December 31, 2021	$	280,541

The Company has intangible assets with definite useful lives capitalized on its consolidated balance sheet in the form of core deposit and other identified intangible assets. These intangible assets are amortized over their estimated useful lives, which range primarily from one to twenty years.

There was no impairment of goodwill recorded during the years ended December 31, 2022 and 2021.

A summary of core deposit and other intangible assets follows:

	December 31,
(In thousands)	2022		2021
Core deposit intangibles:
Gross carrying amount	$	6,161	$	7,435
Less: accumulated amortization		6,133		7,258
Net carrying amount	$	28	$	177

Identified intangible assets:
Gross carrying amount	$	25,179	$	25,025
Less: accumulated amortization		17,866		16,275
Net carrying amount	$	7,313	$	8,750

Total intangibles:
Gross carrying amount	$	31,340	$	32,460
Less: accumulated amortization		23,999		23,533
Net carrying amount	$	7,341	$	8,927

Amortization expense on intangible assets with definite useful lives totaled $2.3 million for 2022, $2.8 million for 2021 and $3.4 million for 2020. Amortization expense on intangible assets with definite useful lives is expected to total $1.9 million for 2023, $1.6 million for 2024, $1.2 million for 2025, $1.0 million for 2026, $0.7 million for 2027 and $1.0 million thereafter. Other identified intangible assets include customer lists and non-compete agreements.

During the years ended December 31, 2022, 2021 and 2020, there was no impairment of intangible assets.