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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Intangible Assets

Acquired intangible assets were as follows as of year-end.

 

 

 

2022

 

 

2021

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Core deposit intangible assets(1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core deposit intangibles

 

 

12,953

 

 

 

4,883

 

 

 

8,070

 

 

 

8,527

 

 

 

3,588

 

 

 

4,939

 

Total core deposit intangible assets

 

$

12,953

 

 

$

4,883

 

 

$

8,070

 

 

$

8,527

 

 

$

3,588

 

 

$

4,939

 

Schedule of Mortgage Servicing Rights (MSRs) and Related Valuation Allowance

Activity for mortgage servicing rights (MSRs) and the related valuation allowance follows:

 

 

 

2022

 

 

2021

 

Mortgage Servicing Rights:

 

 

 

 

 

 

Beginning of year

 

$

2,642

 

 

$

2,246

 

Additions

 

 

397

 

 

 

764

 

Disposals

 

 

 

 

 

 

Amortized to expense

 

 

350

 

 

 

572

 

Other Charges

 

 

 

 

 

 

Change in valuation allowance

 

 

 

 

 

(204

)

End of year

 

$

2,689

 

 

$

2,642

 

 

 

 

 

 

 

 

Valuation allowance:

 

 

 

 

 

 

Beginning of year

 

$

 

 

$

204

 

Additions expensed

 

 

 

 

 

261

 

Reductions credited to operations

 

 

 

 

 

(465

)

Direct write-offs

 

 

 

 

 

 

End of year

 

$

 

 

$

 

Schedule of Estimated Amortization Expense

As of December 31, 2022, the estimated future amortization expense for the core deposit intangible is as follows:

 

 

 

Core deposit intangibles

 

2023

 

$

739

 

2024

 

 

684

 

2025

 

 

604

 

2026

 

 

523

 

2027

 

 

443

 

Thereafter

 

 

1,006

 

 

 

$

3,999

 

Estimated amortization expense for each of the next five years and thereafter is as follows:

 

 

 

MSRs

 

 

Core deposit
intangibles

 

 

Total

 

2023

 

$

140

 

 

$

1,581

 

 

$

1,721

 

2024

 

 

140

 

 

 

1,489

 

 

 

1,629

 

2025

 

 

140

 

 

 

1,311

 

 

 

1,451

 

2026

 

 

139

 

 

 

1,193

 

 

 

1,332

 

2027

 

 

137

 

 

 

1,071

 

 

 

1,208

 

Thereafter

 

 

1,993

 

 

 

1,425

 

 

 

3,418

 

 

 

$

2,689

 

 

$

8,070

 

 

$

10,759