Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2019

(3)Goodwill and Other Intangibles

The Corporation’s goodwill and intangible assets are detailed below:


	Balance			Balance	Amortization
	December 31,		Amortization	December 31,	Period
(dollars in thousands)	2018		Expense	2019	(in years)
Goodwill - Wealth	$	899	—	899	Indefinite
Total Goodwill		899	—	899

Intangible assets - trade name		266	—	266	Indefinite
Intangible assets - customer relationships		3,727	(204)	3,523	20
Intangible assets - non competition agreements		154	(69)	85	4
Total Intangible Assets		4,147	(273)	3,874
Total	$	5,046	(273)	4,773

Accumulated amortization on intangible assets was $750 thousand and $477 thousand as of December 31, 2019 and 2018, respectively.

In accordance with ASC Topic 350, the Corporation performed a qualitative assessment of goodwill and identifiable intangible assets as of December 31, 2019 and determined it was more likely than not that the fair value of the Corporation, including the wealth reporting unit where the goodwill and identifiable intangible assets are held, was more than its carrying amount.

At December 31, 2019, the schedule of future intangible asset amortization is as follows (in thousands):


2020		273
2021		221
2022		204
2023		204
2024		204
Thereafter		2,502
	$	3,608