GOODWILL AND INTANGIBLES

12 Months Ended

Dec. 31, 2023

GOODWILL AND INTANGIBLES [Abstract]

GOODWILL AND INTANGIBLES

7. GOODWILL AND INTANGIBLES

The Company had goodwill of $19.3 million and $19.5 million at December 31, 2023 and 2022, respectively.

Other intangible assets, which consisted of CDI, customer lists, and employment agreements at the dates indicated are summarized below (dollars in thousands):

	December 31,
	2023			2022
Amortized intangible assets:
Core deposit intangible	$	6,679		$	6,679
Less: Accumulated amortization		(4,250	)		(3,420	)
		2,429			3,259
Other intangibles		—			2,972
Less: Accumulated amortization		—			(1,882	)
		—			1,090
Other intangible assets, net	$	2,429		$	4,349

On April 1, 2023, the sale of Windmark was completed, resulting in the removal of goodwill and other intangible assets, net of accumulated amortization, of $193 thousand and $942 thousand, respectively.

Amortization expense for other intangibles for the years ended December 31, 2023, 2022, and 2021 totaled $1.0 million, $1.5 million, and $1.7 million, respectively. The estimated amount of amortization expense for core deposit intangibles to be recognized over the next five years is as follows (dollars in thousands):

2024	$	708
2025		587
2026		466
2027		344
2028		223