Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill And Intangible Assets Disclosure [Abstract]

(7) Goodwill and Intangible Assets

The carrying amount of goodwill has decreased $617 since December 31, 2022 as a result of adjustments to estimated fair values of the assets acquired and liabilities assumed since the date of acquisition. The balance of goodwill was $125,078 at March 31, 2023 and $125,695 at December 31, 2022.

Acquired intangible assets, other than goodwill, as of March 31, 2023 and December 31, 2022 were as follows:


	March 31, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Core deposit intangibles	$	12,953	$	5,282	$	7,671	$	12,953	$	4,883	$	8,070
Total amortized intangible assets	$	12,953	$	5,282	$	7,671	$	12,953	$	4,883	$	8,070

Aggregate core deposit intangible amortization expense was $398, and $217, for the three-months ended March 31, 2023 and 2022, respectively.

Activity for mortgage servicing rights (MSRs) and the related valuation allowance for the three-month periods ended March 31, 2023 and March 31, 2022 were as follows:


	Three Months Ended March 31,
	2023			2022
Loan Servicing Rights:
Balance at Beginning of Period	$	2,689		$	2,642
Additions		436			145
Additions from acquisition		—			—
Disposals		—			—
Amortized to expense		(66	)		(109	)
Other charges		—			—
Change in valuation allowance		—			—
Balance at End of Period	$	3,059		$	2,678


Valuation allowance:
Balance at Beginning of Period	$	—		$	—
Additions expensed		—			—
Reductions credited to operations		—			—
Direct write-offs		—			—
Balance at End of Period	$	—		$	—

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


	MSRs		Core deposit intangibles		Total
2023	$	130	$	1,181	$	1,311
2024		171		1,489		1,660
2025		170		1,312		1,482
2026		167		1,193		1,360
2027		163		1,071		1,234
Thereafter		2,258		1,425		3,683
	$	3,059	$	7,671	$	10,730