Goodwill and Core Deposit Intangible, Net

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Core Deposit Intangible, Net

18.Goodwill and Core Deposit Intangible, Net

In 2020, the Company recorded goodwill and core deposit intangible of $18,033,880 and $1,615,002, respectively, relating to the Heritage Bancorp, Inc. acquisition.

Amortization expense of the core deposit intangible (“CDI”) was approximately $40,000 for each of the three months ended March 31, 2023 and 2022. The remaining weighted average life is 6.8 years at March 31, 2023.

Scheduled amortization of CDI at March 31, 2023 are as follows:

(Dollars in thousands)	CDI Amortization
2023 (nine months remaining)	$	121
2024		162
2025		162
2026		162
2027		162
2028 and thereafter		321
	$	1,090