NOTE 22 - GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and certain other intangibles generally arise from business combinations accounted for under the acquisition method of accounting. Goodwill totaled $2.3 million at December 31, 2019 and 2018, and represents the excess of the total acquisition price paid over the fair value of the assets acquired, net of the fair values of liabilities assumed as a result of the Branch Purchase in 2016. Goodwill is not amortized but is evaluated for impairment on an annual basis at December 31 of each year or whenever events or changes in circumstances indicate the carrying value may not be recoverable. The Company performed an impairment analysis at December 31, 2019, and 2018 and determined that no impairment of goodwill existed.

The following table summarizes the changes in the Company’s other intangible assets comprised solely of CDI for the years ended December 31, 2019, and December 31, 2018.


	Other Intangible Assets
			Accumulated
	Gross CDI		Amortization		Net CDI
Balance, December 31, 2017	$	2,239	$	(922)	$	1,317
Amortization		—		(307)		(307)
Additions as a result of the Anchor Acquisition		5,251		(44)		5,207
Balance, December 31, 2018		7,490		(1,273)		6,217
Amortization		—		(760)		(760)
Balance, December 31, 2019	$	7,490	$	(2,033)	$	5,457

The CDI represents the fair value of the intangible core deposit base acquired in business combinations. The CDI will be amortized on a straight-line basis over 10 years for the CDI related to the Anchor Acquisition and on an accelerated basis over approximately nine years for the CDI related to the Branch Purchase. Total amortization expense was $760,000 for the year ended December 31, 2019, and $351,000 for the same period in 2018. Amortization expense for the CDI is expected to be as follows for the years ended December 31:


2020	$	706
2021		691
2022		691
2023		691
2024		621
Thereafter		2,057
Total	$	5,457