Goodwill and intangible assets:

The following table summarizes changes in goodwill during the three months ended March 31, 2020. There was no such activity during the three months ended March 31, 2019.



	Goodwill
Balance at December 31, 2019	$	169,051
Addition from acquisition of Farmers National (see Note 2)	5,808
Balance at March 31, 2020	$	174,859

Goodwill is tested annually, or more often if circumstances warrant, for impairment. Impairment exists when a reporting unit's carrying value exceeds its fair value. The Company tested goodwill for impairment as of December 31, 2019 and determined there to be no impairment. Given the significant economic decline during the first quarter of 2020 due to COVID-19 and the negative impact on most businesses, including banking, management determined it would be prudent to evaluate any adverse impact to the Company's recorded goodwill. As of March 31, 2020, the Company performed a qualitative assessment and determined it was more likely than not that the fair value of the reporting unit exceeded its carrying value, including goodwill. As such, no impairment was required.

Core deposit and other intangibles include core deposit intangibles, customer base trust intangible and manufactured housing servicing intangible. The composition of core deposit and other intangibles as of March 31, 2020 and December 31, 2019 are as follows:



	Core deposit and other intangibles
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
March 31, 2020
Core deposit intangible	$	52,165	$	(34,970	)	$	17,195
Customer base trust intangible	1,600		(427		)	1,173
Manufactured housing servicing intangible	1,088		(580		)	508
Total core deposit and other intangibles	$	54,853	$	(35,977	)	$	18,876

December 31, 2019
Core deposit intangible	$	49,675	$	(33,861	)	$	15,814
Customer base trust intangible	1,600		(387		)	1,213
Manufactured housing servicing intangible	1,088		(526		)	562
Total core deposit and other intangibles	$	52,363	$	(34,774	)	$	17,589

During the first quarter of 2020, the Company recorded $2,490 of core deposit intangibles resulting from the Farmers National acquisition, which is being amortized over a weighted average life of approximately 4 years.

Amortization expense for core deposit and other intangibles for the three months ended March 31, 2020 and March 31, 2019 was $1,203 and $729, respectively.

The estimated aggregate future amortization expense of core deposit and other intangibles is as follows:



2020	$	3,492
2021	4,089
2022	3,350
2023	2,574
2024	2,015
Thereafter	3,356
	$	18,876