Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets:

Goodwill associated with the Company’s purchase of Maple Leaf in January 2020 and other past acquisitions totaled $45.8 million at September 30, 2021 and December 31, 2020.  Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value, which is determined through a two-step impairment test. Management performs goodwill impairment testing on an annual basis as of September 30.  The fair value of the reporting units is determined using a combination of a discounted cash flow method and a guideline public company method.  

Acquired Intangible Assets

Acquired intangible assets were as follows:

	September 30, 2021					December 31, 2020
(In Thousands of Dollars)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Customer relationship intangibles	$	7,210	$	(6,557	)	$	7,210	$	(6,318	)
Non-compete contracts		430		(391	)		430		(388	)
Trade name		520		(350	)		520		(320	)
Core deposit intangible		6,979		(4,946	)		6,979		(4,271	)
Total	$	15,139	$	(12,244	)	$	15,139	$	(11,297	)

Aggregate amortization expense was $316 thousand and $948 thousand for the three and nine month periods ended September 30, 2021.  Amortization expense was $332 thousand and $995 thousand for the three and nine months ended September 30, 2020.

Estimated amortization expense for each of the next five periods and thereafter:

2021 (3 months)	$	318
2022		1,090
2023		617
2024		314
2025		253
Thereafter		303
Total	$	2,895