Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

NOTE 8 - GOODWILL AND INTANGIBLE ASSETS

The carrying amount of goodwill has increased $49,756 since December 31, 2017 as a result of the UCB acquisition, discussed in Note 2. The balance of goodwill was $76,851 at December 31, 2018 and $27,095 at December 31, 2017.

Management performs an evaluation of goodwill for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Management performed an evaluation of the Company’s goodwill during the fourth quarter of 2018. Based on this test, management concluded that the Company’s goodwill was not impaired at December 31, 2018.

Acquired intangible assets were as follows as of year end.

	2018						2017
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets(1):
MSRs	$	2,110	$	446	$	1,664	$	1,065	$	322	$	743
Core deposit intangibles		14,792		7,104		7,688		7,274		6,738		536
Total amortized intangible assets	$	16,902	$	7,550	$	9,352	$	8,339	$	7,060	$	1,279

(1)	Excludes fully amortized intangible assets

Aggregate core deposit intangible amortization expense was $366, $586 and $699 for 2018, 2017 and 2016, respectively.

Aggregate mortgage servicing rights amortization was $126, $72 and $74 for 2018, 2017 and 2016, respectively.

NOTE 8 - GOODWILL AND INTANGIBLE ASSETS (Continued)

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

	MSRs		Core deposit intangibles		Total
2019	$	88	$	945	$	1,033
2020		88		914		1,002
2021		87		891		978
2022		87		868		955
2023		86		841		927
Thereafter		1,228		3,229		4,457
	$	1,664	$	7,688	$	9,352