NOTE 9 - GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying values of goodwill and intangible assets

Changes in the carrying values of goodwill and intangible assets were as follows:

Years ended December 31, (in thousands)		2020			2019			2018
Goodwill (1)
Balance, beginning of period	$	13,815		$	13,815		$	13,815
Additions		-			-			-
Impairment		-			-			-
Balance, end of period	$	13,815		$	13,815		$	13,815
Core deposit intangibles
Cost, beginning of period	$	5,881		$	5,881		$	5,881
Additions		-			-			-
Cost, end of period		5,881			5,881			5,881
Amortization, beginning of period		(4,886	)		(4,498	)		(4,044	)
Amortization		(321	)		(388	)		(454	)
Amortization, end of period		(5,207	)		(4,886	)		(4,498	)
Core deposit intangibles, net	$	674		$	995		$	1,383

(1) Not subject to amortization.

Estimated annual amortization expense of core deposit intangibles

The core deposit intangibles were recorded as identifiable intangible assets and are being amortized over ten years using the sum-of-the-years’ digits method. Estimated annual amortization expense of core deposit intangibles is as follows:

December 31,		CDI amortization (in thousands)
	2021		255
	2022		192
	2023		128
	2024		61
	2025		25
	2026 and thereafter		13
	Total	$	674