6.GOODWILL AND OTHER INTANGIBLE ASSETS

The Corporation through the acquisition of Peninsula in 2014, Eagle River and Niagara in 2016, and FFNM and Lincoln in 2018, has recorded goodwill and core deposit intangibles as presented below (dollars in thousands):


			Deposit Based
	Goodwill		Intangible
	Balance		Initial Balance
Peninsula	$	3,805	$	1,206
Eagle River		1,839		993
Niagara		50		300
FFNM		12,628		2,894
Lincoln		1,252		1,353
Total	$	19,574	$	6,746


	Deposit Based
	Intangible		March 31, 2020		Future Annual
	March 31, 2020		Amortization		Amortization
	Balance		Expense		Expense
Peninsula	$	564	$	30	$	121
Eagle River		604		25		99
Niagara		192		8		30
FFNM		2,364		72		290
Lincoln		1,150		34		135
Total	$	4,874	$	169	$	675


	Deposit Based
	Intangible		2019
	December 31, 2019		Amortization
	Balance		Expense
Peninsula	$	594	$	121
Eagle River		629		99
Niagara		200		30
FFNM		2,436		299
Lincoln		1,184		128
Total	$	5,043	$	677

The deposit based intangible asset is reported net of accumulated amortization at $4.874 million at March 31, 2020. Amortization expense in the first three months of 2020 is $.169 million. Amortization expense for the next five years is expected to be at $.675 million per year.

The Corporation, in accordance with GAAP, evaluates it goodwill annually for impairment. As a result of the current economic uncertainty and volatility surrounding COVID-19, the Corporation may need to perform this evaluation prior to the annual measurement date.