Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

NOTE 5 Goodwill and Other Intangible Assets

The following table summarizes the carrying amount of goodwill, by segment, as of March 31, 2024 and December 31, 2023:

	March 31,		December 31,
(dollars in thousands)	2024		2023
Banking	$	35,260	$	35,260
Retirement and benefit services		11,523		11,523
Total goodwill	$	46,783	$	46,783

Goodwill is evaluated for impairment on an annual basis, at a minimum, and more frequently when the economic environment warrants. The Company determined that there was no goodwill impairment as of March 31, 2024.

The gross carrying amount and accumulated amortization for each type of identifiable intangible asset, as of March 31, 2024 and December 31, 2023, were as follows:

	March 31, 2024						December 31, 2023
(dollars in thousands)	Gross Carrying Amount		Accumulated Amortization		Total		Gross Carrying Amount		Accumulated Amortization		Total
Identifiable customer intangibles	$	41,423	$	(30,967)	$	10,456	$	41,423	$	(29,959)	$	11,464
Core deposit intangible assets		7,592		(2,214)		5,378		7,592		(1,898)		5,694
Total intangible assets	$	49,015	$	(33,181)	$	15,834	$	49,015	$	(31,857)	$	17,158

Amortization of intangible assets was $1.3 million for both the three months ended March 31, 2024 and 2023.