Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

(7) Goodwill and Intangible Assets

The carrying amount of goodwill was $125,520 at March 31, 2024 and December 31, 2023.

Acquired intangible assets, other than goodwill, as of March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Core deposit intangibles	$	12,668	$	6,569	$	6,099		12,668		6,178	$	6,490
Total amortized intangible assets	$	12,668	$	6,569	$	6,099	$	12,668	$	6,178	$	6,490

Aggregate core deposit intangible amortization expense was $391 and $398, for the three-months ended March 31, 2024 and 2023, respectively.

Activity for mortgage servicing rights (MSRs) and the related valuation allowance for the three months ended March 31, 2024 were as follows:

	Three Months Ended March 31,
	2024			2023
Loan Servicing Rights:
Balance at Beginning of Period	$	3,018		$	2,689
Additions		50			436
Additions from acquisition		—			—
Disposals		—			—
Amortized to expense		(69	)		(66	)
Other charges		—			—
Change in valuation allowance		—			—
Balance at End of Period	$	2,999		$	3,059
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
2024	$	127	$	1,097	$	1,224
2025		169		1,312		1,481
2026		166		1,193		1,359
2027		162		1,071		1,233
2028		155		782		937
Thereafter		2,220		644		2,864
	$	2,999	$	6,099	$	9,098