GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2022

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

9.       GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in goodwill were as follows (dollars in thousands):

Balance, July 1, 2020	$	7,292
Acquired		—
Balance, June 30, 2021		7,292
Acquired		1,507
Balance, June 30, 2022	$	8,799

There were no impairment losses on goodwill or intangible assets for the years ended June 30, 2022 and 2021.

Acquired other intangible assets were as follows (dollars in thousands):

	June 30,		June 30,
	2022		2021
Customer relationship intangibles:
Gross carrying amount	$	3,653	$	2,645
Less: accumulated amortization		(1,375)		(1,064)
Net carrying amount		2,278		1,581
Weighted average remaining useful life (in years)		4.26		4.04
Core deposit intangibles:
Gross carrying amount		562		562
Less: accumulated amortization		(346)		(300)
Net carrying amount		216		262
Weighted average remaining useful life (in years)		3.23		3.57
Total other intangible assets:
Gross carrying amount		4,215		3,207
Less: accumulated amortization		(1,721)		(1,364)
Net carrying amount	$	2,494	$	1,843

Estimated amortization expense for the next five years is as follows (dollars in thousands):

Year ending June 30,
2023	$	398
2024		360
2025		325
2026		290
2027		255

Aggregate amortization expense was $357,000 and $316,000 for the years ended June 30, 2022 and 2021, respectively.