INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2025

INTANGIBLE ASSETS

INTANGIBLE ASSETS

19. INTANGIBLE ASSETS

The Company’s Consolidated Balance Sheets show both tangible assets (such as loans, buildings, and investments) and intangible assets (such as goodwill and core deposit intangible). Goodwill has an indefinite life and is not amortized. Instead, such intangible is evaluated for impairment at the reporting unit level at least annually, or more frequently if indicators of impairment are present. Any resulting impairment would be reflected as a non-interest expense. Based on this analysis, no impairment was recorded in 2025 or 2024. Of the Company’s goodwill of $13.6 million, $11.2 million relates to past branch acquisitions while $2.4 million relates to the acquisition of the former West Chester Capital Advisors, now operating as AmeriServ Wealth Advisors. The balance of the Company’s goodwill at December 31, 2025 and 2024 was $13.6 million.

Other identifiable intangible assets, such as core deposit intangible, are assigned useful lives, which are amortized on an accelerated basis over their useful lives. Such lives are also periodically reassessed to determine if any amortization period adjustments are required. During the years ended December 31, 2025 and 2024 no such adjustments were recorded. During 2021, the Company recorded a core deposit intangible of $177,000 as a result of the Riverview Bank branch acquisition. As of December 31, 2025 and 2024, accumulated amortization on the core deposit intangible totaled $121,000 and $100,000, respectively.

	YEAR ENDED DECEMBER 31,
	2025		2024
	(IN THOUSANDS)
CORE DEPOSIT INTANGIBLE
Balance at beginning of year	$	77	$	101
Amortization		(21)		(24)
Balance at end of year	$	56	$	77

As of December 31, 2025, the estimated future amortization expense for the core deposit intangible associated with the Riverview branch acquisition was as follows (in thousands):

2026	$	17
2027		14
2028		11
2029		8
2030		5
After five years		1
	$	56