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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Change in Goodwill

The change in goodwill during the years ended December 31, 2022 and 2021 is as follows:

 

 

 

2022

 

 

2021

 

Beginning of year

 

$

35,842

 

 

$

2,333

 

Acquired Goodwill

 

 

 

 

 

33,509

 

Impairment

 

 

 

 

 

 

End of year

 

$

35,842

 

 

$

35,842

 

Schedule of Acquired Intangible Assets

Acquired intangible assets were as follows at year-end:

 

 

2022

 

 

2021

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

Amortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

Core deposit intangibles

$

1,566

 

 

$

787

 

 

$

1,566

 

 

$

589

 

Trade name intangibles

 

348

 

 

 

75

 

 

 

348

 

 

 

15

 

Total

$

1,914

 

 

$

862

 

 

$

1,914

 

 

$

604

 

 

Schedule of Expected Aggregate Annual Amortization Expense

Expected aggregate annual amortization expense for the next five years assuming no new acquisitions or impairments is as follows:

 

(In Thousands)

 

 

2023

$

233

 

2024

 

208

 

2025

 

181

 

2026

 

162

 

2027

 

129

 

2028 and thereafter

 

139

 

 

$

1,052