GOODWILL AND OTHER INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

At September 30, 2020 and December 31, 2019, we had goodwill of $37.1 million. We evaluate goodwill impairment as of August 31st each year, and more frequently if events or circumstances indicate that there may be impairment. We completed our most recent annual goodwill impairment test as of August 31, 2020 and determined that no goodwill impairment existed.

Core deposit intangibles are amortized over their useful lives ranging from four to ten years. As of September 30, 2020, the weighted average remaining amortization period for core deposit intangibles was approximately 4.1 years.

($ in thousands)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
September 30, 2020
Core deposit intangibles	$	30,904	$	27,965	$	2,939
December 31, 2019
Core deposit intangibles	$	30,904	$	26,753	$	4,151

Aggregate amortization of intangible assets was $353 thousand and $500 thousand for the three months ended September 30, 2020 and 2019 and $1.2 million and $1.7 million for the nine months ended September 30, 2020 and 2019. The following table presents estimated future amortization expenses as of September 30, 2020:

($ in thousands)	Remainder of 2020		2021		2022		2023		2024		Total
Estimated future amortization expense	$	306	$	1,082	$	799	$	517	$	235	$	2,939