Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2012

Goodwill And Intangible Assets

Goodwill and Intangible Assets

Note 11: Goodwill and Intangible Assets

The composition of goodwill and other intangible assets, all of which is core deposit intangible, at March 31, 2012 and December 31, 2011:

	March 31, 2012			December 31, 2011
	(In thousands)
Goodwill	$	1,719		$	1,719
Other intangible assets - gross		974			974
Other intangible assets - amortization		(778	)		(755	)
Total	$	1,915		$	1,938

The Company recorded amortization relative to intangible assets totaling $23,000 for both quarters ended March 31, 2012 and March 31, 2011. The Company anticipates $91,000 of amortization for each of fiscal 2012, 2013 and $37,000 for 2014. Such amortization is derived using the straight line method for the core deposit asset over ten years. Pursuant to FASB ASC 350, the Company is required to annually test goodwill and other intangible assets for impairment. The Company’s testing of goodwill and other intangible assets at March 31, 2012 indicated there was no impairment in the carrying value of these assets.