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Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

(7) Goodwill and Intangible Assets

There was no change in the carrying amount of goodwill of $76,851 for the periods ended September 30, 2021 and December 31, 2020.

Acquired intangible assets, other than goodwill, as of September 30, 2021 and December 31, 2020 were as follows:

 

 

 

2021

 

 

2020

 

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

Carrying

Amount

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

Carrying

Amount

 

Amortized intangible assets(1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core deposit intangibles

 

$

8,527

 

 

$

3,365

 

 

$

5,162

 

 

$

8,527

 

 

$

2,698

 

 

$

5,829

 

Total amortized intangible assets

 

$

8,527

 

 

$

3,365

 

 

$

5,162

 

 

$

8,527

 

 

$

2,698

 

 

$

5,829

 

 

(1)

Excludes fully amortized intangible assets.  Certain fully amortized assets were removed from the 2020 presentation.

Aggregate core deposit intangible amortization expense was $223 and $227 for the three months ended September 30, 2021 and 2020, respectively, and $668 and $686 for the nine-months ended September 30, 2021 and 2020, respectively.

Activity for mortgage servicing rights (MSRs) and the related valuation allowance for the three- and nine-month periods ended September 30, 2021 and September 30, 2020 were as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Loan Servicing Rights:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

2,745

 

 

$

1,717

 

 

$

2,246

 

 

$

1,562

 

Additions

 

 

164

 

 

 

381

 

 

 

562

 

 

 

924

 

Disposals

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Amortized to expense

 

 

(144

)

 

 

(135

)

 

 

(436

)

 

 

(361

)

Other charges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Change in valuation allowance

 

 

(189

)

 

 

25

 

 

 

204

 

 

 

(137

)

Balance at End of Period

 

$

2,576

 

 

$

1,988

 

 

$

2,576

 

 

$

1,988

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation allowance:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

(189

)

 

$

264

 

 

$

204

 

 

$

102

 

Additions expensed

 

 

189

 

 

 

—

 

 

 

261

 

 

 

162

 

Reductions credited to operations

 

 

—

 

 

 

(25

)

 

 

(465

)

 

 

(25

)

Direct write-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at End of Period

 

$

—

 

 

$

239

 

 

$

—

 

 

$

239

 

 

 

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

 

 

 

MSRs

 

 

Core deposit

intangibles

 

 

Total

 

2021

 

$

33

 

 

$

223

 

 

$

256

 

2022

 

 

134

 

 

 

868

 

 

 

1,002

 

2023

 

 

133

 

 

 

841

 

 

 

974

 

2024

 

 

133

 

 

 

804

 

 

 

937

 

2025

 

 

132

 

 

 

708

 

 

 

840

 

Thereafter

 

 

2,011

 

 

 

1,718

 

 

 

3,729

 

 

 

$

2,576

 

 

$

5,162

 

 

$

7,738