Goodwill and Core Deposit Intangible

3 Months Ended

Mar. 31, 2025

Goodwill and Core Deposit Intangible [Abstract]

Goodwill and Core Deposit Intangible

NOTE 5 – Goodwill and Core Deposit Intangible

The following tables present the changes in the carrying amounts of goodwill and core deposit intangibles for the three months ended March 31, 2025 and 2024:

	March 31, 2025
	Goodwill		Core Deposit Intangible
	(In thousands)
Balance at the beginning of the period	$	25,858	$	1,775
Additions		–		–
Amortization		–		(79	)
Balance at the end of the period	$	25,858	$	1,696

	March 31, 2024
	Goodwill		Core Deposit Intangible
	(In thousands)
Balance at the beginning of the period	$	25,858	$	2,111
Additions		–		–
Amortization		–		(84	)
Balance at the end of the period	$	25,858	$	2,027

The carrying amount of the core deposit intangible consisted of the following (in thousands):

	March 31, 2025			December 31, 2024
Core deposit intangible acquired	$	3,329		$	3,329
Less: Accumulated amortization		(1,633	)		(1,554	)
	$	1,696		$	1,775

The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands):

Remainder of 2025	$	236
2026		304
2027		291
2028		279
2029		267
Thereafter		319
	$	1,696