GOODWILL AND INTANGIBLES

12 Months Ended

Dec. 31, 2024

GOODWILL AND INTANGIBLES [Abstract]

GOODWILL AND INTANGIBLES

7. GOODWILL AND INTANGIBLES

The Company had goodwill of $19.3 million at December 31, 2024 and 2023, 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,
	2024			2023
Amortized intangible assets:
Core deposit intangible	$	6,679		$	6,679
Less: Accumulated amortization		(4,959	)		(4,250	)
Other intangible assets, net	$	1,720		$	2,429

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, 2024, 2023, and 2022 totaled $0.7 million, $1.0 million, and $1.5 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):

2025	$	587
2026		465
2027		344
2028		223
2029		101