Goodwill and other intangibles

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Other Intangible Assets

The following table shows the activity in goodwill and other intangible assets for the three-month periods ended March 31, 2024 and 2023.

(in thousands)	Goodwill		Other intangible assets		Total
December 31, 2022	$	159,595	$	5,975	$	165,570
Amortization	—		327		327
March 31, 2023	$	159,595	$	5,648	$	165,243
December 31, 2023	$	159,595	$	4,652	$	164,247
Amortization	—		320		320
March 31, 2024	$	159,595	$	4,332	$	163,927

Park evaluates goodwill for impairment during the second quarter of each year, with financial data as of the immediately prior March 31. Based on the qualitative analysis performed as of April 1, 2023, the Company determined that goodwill for Park's reporting unit, PNB, was not impaired.

Acquired Intangible Assets

The following table shows the balance of acquired intangible assets at March 31, 2024 and at December 31, 2023:

	March 31, 2024				December 31, 2023
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Other intangible assets:
Core deposit intangible assets	$	14,456	$	10,124	$	14,456	$	9,804

Core deposit intangible assets are being amortized, on an accelerated basis, over a period of ten years. Aggregate amortization expense was $320,000 and $327,000 for the three months ended March 31, 2024 and 2023, respectively.

Estimated amortization expense related to core deposit intangible assets for the remainder of 2024 and the next four years follows:

(in thousands)	Total
Nine months ending December 31, 2024	$	894
2025	1,042
2026	887
2027	754
2028	618