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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Intangible Assets, Other than Goodwill

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

 

 

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

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

 

$

 

 

$

 

Schedule of Estimated Amortization Expense

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