Goodwill and Core Deposit Intangible

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Core Deposit Intangible

18.Goodwill and Core Deposit Intangible

The Company recorded goodwill and a core deposit intangible of $18.0 million and $1.6 million, respectively, related to their acquisition of Heritage Bancorp, Inc. in 2020. Goodwill and other intangible assets were $18.9 million and $19.0 million as of June 30, 2024 and December 31, 2023, respectively.

Amortization expense of the core deposit intangible (“CDI”) was approximately $80,000 for each of the six months ended June 30, 2024 and 2023, and was approximately $40,000 for each of the three months ended June 30, 2024 and 2023. The remaining weighted average life is 5.5 years at June 30, 2024.

Scheduled amortization of CDI at June 30, 2024 are as follows:

(Dollars in thousands)	CDI Amortization
2024 (six months remaining)	$	80
2025		162
2026		162
2027		162
2028		162
2029		160
	$	888