GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2024

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

8.       GOODWILL AND OTHER INTANGIBLE ASSETS

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

Balance, July 1, 2022	$	8,799
Acquired		—
Balance, June 30, 2023		8,799
Acquired		2,080
Balance, June 30, 2024		10,879
Acquired		—
Balance, December 31, 2024	$	10,879

There were no impairment losses on goodwill or intangible assets for the six months ended December 31, 2024 and 2023 and for the fiscal years ended June 30, 2024 and 2023.

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

	December 31,		June 30,
	2024		2024		2023
Customer relationship intangibles:
Gross carrying amount	$	5,042	$	5,042	$	3,653
Less: accumulated amortization		(2,455)		(2,226)		(1,729)
Net carrying amount		2,587		2,816		1,924
Weighted average remaining useful life (in years)		4.02		4.17		3.95
Core deposit intangibles:
Gross carrying amount		562		562		562
Less: accumulated amortization		(444)		(427)		(390)
Net carrying amount		118		135		172
Weighted average remaining useful life (in years)		2.39		2.57		2.90
Total other intangible assets:
Gross carrying amount		5,604		5,604		4,215
Less: accumulated amortization		(2,899)		(2,653)		(2,119)
Net carrying amount	$	2,705	$	2,951	$	2,096

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

Year ending December 31,
2025	$	464
2026		417
2027		371
2028		324
2029		277

Aggregate amortization expense was $246,000 and $270,000 for the six months ended December 31, 2024 and 2023, respectively, and $534,000 and $398,000 for the fiscal years ended June 30, 2024 and 2023, respectively.