OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2021

OTHER INTANGIBLE ASSETS

OTHER INTANGIBLE ASSETS

12.OTHER INTANGIBLE ASSETS

As a result of the Merger, the Company recorded $10.2 million of core deposit intangible assets and a $780 thousand non-compete agreement intangible asset on the Merger Date.

The following table presents the carrying amount and accumulated amortization of intangible assets that are amortizable and arose from the Merger. There were no intangible assets at December 31, 2020.

	June 30, 2021
		Core Deposit		Non-complete
(In thousands)		Intangibles		Agreement		Total
Gross carrying value	$	10,204	$	780	$	10,984
Accumulated amortization		(892)		(300)		(1,192)
Net carrying amount	$	9,312	$	480	$	9,792

Amortization expense recognized on intangible assets was $835 thousand and $1.2 million for the three and six months ended June 30, 2021, respectively.  There was no amortization expense recognized on intangible assets for the three or six months ended June 30, 2020.

Estimated amortization expense for the remainder of 2021 through 2025 and thereafter is as follows:

(In thousands)		Total
2021	$	1,430
2022		1,878
2023		1,425
2024		1,163
2025		958
Thereafter		2,938
Total	$	9,792