Goodwill and Intangible Assets

The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of First Mid Insurance. The following table presents gross carrying value and accumulated amortization by major intangible asset class as of March 31, 2020 and December 31, 2019 (in thousands):



	March 31, 2020				December 31, 2019
	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Goodwill not subject to amortization (effective 1/1/02)	$	108,752	$	3,760	$	108,752	$	3,760
Intangibles from branch acquisition	3,015		3,015		3,015		3,015
Core deposit intangibles	32,355		18,589		32,355		17,746
Other intangibles	16,389		4,244		16,129		3,917
	$	160,511	$	29,608	$	160,251	$	28,438

The Company has mortgage servicing rights acquired in previous acquisitions. The following table summarizes the activity pertaining to mortgage servicing rights included in intangible assets as of March 31, 2020, March 31, 2019 and December 31, 2019 (in thousands):



	March 31, 2020			March 31, 2019			December 31, 2019
Beginning Balance	$	1,444		$	2,101		$	2,101
Mortgage servicing rights acquired during period	—			—			—
Mortgage servicing rights capitalized	—			—			—
Valuation reserve	(18		)	—			(380		)
Mortgage servicing rights amortized	(126		)	(58		)	(411		)
I/O Strip	(4		)	—			134
Ending Balance	$	1,296		$	2,043		$	1,444

Total amortization expense for the three months ended March 31, 2020 and 2019 was as follows (in thousands):



	Three months ended March 31,
	2020		2019
Core deposit intangibles	$	843	$	980
Customer list intangibles	326		318
Mortgage servicing rights	126		58
	$	1,295	$	1,356

Aggregate amortization expense for the current year and estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):



Aggregate amortization expense:
For period 01/01/20-3/31/20	$	1,295
Estimated amortization expense:
For period 4/01/20-12/31/20	3,674
For year ended 12/31/20	4,285
For year ended 12/31/21	3,919
For year ended 12/31/22	3,498
For year ended 12/31/23	2,946
For year ended 12/31/24	2,633

In accordance with the provisions of SFAS No. 142, “Goodwill and Other Intangible Assets,” codified within ASC 350, the Company performed testing of goodwill for impairment as of September 30, 2019 and determined that, as of that date, goodwill was not impaired. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets.