Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

7. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The change in goodwill during the years ended December 31, 2025 and 2024 is as follows:

	2025		2024
Beginning of year	$	58,806	$	56,968
Acquired Goodwill		—		—
Measurement period adjustment		—		1,838
Impairment		—		—
End of year	$	58,806	$	58,806

Impairment exists when a reporting unit's carrying value of goodwill exceeds its fair value. At December 31, 2025, the Company's reporting unit had positive equity and the Company elected to perform a qualitative assessment to determine if it was more likely than not that the fair value of the reporting unit exceeded its carrying value, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment of goodwill.

Acquired Intangible Assets

Acquired intangible assets were as follows at year-end:

	2025				2024
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Core deposit intangibles	$	25,612	$	10,291	$	26,910	$	6,061
Trade name intangibles		348		303		348		242
Total	$	25,960	$	10,594	$	27,258	$	6,303

Aggregate amortization expense for the years ended December 31, 2025 and 2024 was $4,291 and $4,778, respectively.

In connection with the New Jersey Branch Sale, core deposit intangibles of $1,298 were written off and included within the gain on sale within the Consolidated Statements of Operations.

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

(In Thousands)
2026	$	3,796
2027		3,271
2028		2,791
2029		2,312
2030		1,833
2031 and thereafter		1,363
	$	15,366