Core Deposit Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Core Deposit Intangible Assets

NOTE 5 – CORE DEPOSIT INTANGIBLE ASSETS

Core Deposit Intangible

No additional core deposit intangible was recorded in 2015, 2014 or 2013. The core deposit intangible asset will be amortized over an estimated life of ten years. Amortization expense related to the core deposit intangible asset totaled $125 thousand, $130 thousand and $135 thousand in 2015, 2014 and 2013, respectively. The following table shows the core deposit intangible and the related accumulated amortization as of December 31:

(Dollars in thousands)	2015			2014			2013
Gross carrying amount	$	1,251		$	1,251		$	1,251
Accumulated amortization		(747	)		(622	)		(492	)
Net carrying amount	$	504		$	629		$	759

The estimated aggregate future amortization expense for the core deposit assets remaining as of December 31, 2015 is as follows:

(Dollars in thousands)	Core Deposit Amortization
2016		$	121
2017			116
2018			101
2019			63
2020			59
Thereafter			44
		$	504