Significant Estimates and Concentrations

12 Months Ended

Dec. 31, 2021

Significant Estimates and Concentrations [Abstract]

Significant Estimates and Concentrations

Note 18: Significant Estimates and Concentrations

GAAP requires disclosure of certain significant estimates and current vulnerabilities due to certain concentrations.  Estimates related to the allowance for loan losses are reflected in Note 7 regarding loans.

As of December 31, 2021, hospitality loans were 19% of gross total loans with outstanding balances of $198.4 million and unfunded commitments of $41.5 million; energy loans were 10% of gross total loans with outstanding balances of $98.5 million and unfunded commitments of $9.4 million.

The Company evaluates goodwill for potential goodwill impairment on an annual basis or more often based on consideration if any impairment indicators have occurred. A prolonged strain on the U.S. economy impacting the Company could result in goodwill being partially or fully impaired. At December 31, 2021, goodwill of $8.5 million was recorded on the consolidated balance sheet.