Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2020

Goodwill and Other Intangibles [Abstract]

Goodwill and Other Intangibles

Note 7 – Goodwill and Other Intangibles

Due to the COVID-19 pandemic and its impact on market conditions, the Company performed a qualitative assessment of goodwill as of March 31, 2020.  As a result of management’s qualitative evaluation of relevant events and circumstances at March 31, 2020, the Company concluded that it was not more likely than not that fair value was less than carrying value. Changes in the economic environment, operations, or other adverse events could result in future impairment charges which could have a material adverse impact on the Company's operating results. The following table provides information on the significant components of goodwill and other acquired intangible assets at March 31, 2020 and December 31, 2019.

March 31, 2020
									Weighted
	Gross		Accumulated				Net		Average
	Carrying		Impairment		Accumulated		Carrying		Remaining Life
(Dollars in thousands)	Amount		Charges		Amortization		Amount		(in years)
Goodwill	$	19,728	$	(1,543)	$	(667)	$	17,518		—
Other intangible assets
Amortizable
Core deposit intangible	$	3,954	$	—	$	(1,846)	$	2,108		5.4
Total other intangible assets	$	3,954	$	—	$	(1,846)	$	2,108

December 31, 2019
									Weighted
	Gross			Accumulated			Net		Average
	Carrying		Impairment			Accumulated	Carrying		Remaining Life
(Dollars in thousands)	Amount		Charges			Amortization	Amount		(in years)
Goodwill	$	19,728	$	(1,543)	$	(667)	$	17,518		—
Other intangible assets
Amortizable
Core deposit intangible	$	3,954	$	—	$	(1,702)	$	2,252		5.7
Total other intangible assets	$	3,954	$	—	$	(1,702)	$	2,252

The aggregate amortization expense included in continuing operations was $144 thousand for the three months ended March 31, 2020 and $162 thousand for the three months ended March 31, 2019.

At March 31, 2020, estimated future remaining amortization for amortizing intangibles within the years ending December 31, is as follows:

(Dollars in thousands)	Amortization Expense
2020	$	389
2021		461
2022		389
2023		317
2024		246
2025		174
Thereafter		132
Total amortizing intangible assets	$	2,108