Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

9. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

On September 8, 2006, the Company acquired a branch office in Richfield, PA. Goodwill associated with this transaction is carried at $2,046,000. On November 30, 2015, the Company acquired FNBPA and carries goodwill of $3,402,000 relating to the acquisition. On April 30, 2018, Juniata completed the acquisition of the remaining stock of LCB and, as a result, recorded goodwill of $3,599,000. Total goodwill at both December 31, 2020 and December 31, 2019 was $9,047,000.

Intangible Assets

On November 30, 2015, a core deposit intangible in the amount of $303,000 associated with the FNBPA acquisition was recorded. On April 30, 2018, a core deposit intangible of $289,000 associated with the LCB acquisition was recorded. Both core deposit intangibles are being amortized over a ten-year period using a sum of the years’ digits basis.

The following table shows the amortization schedule for each of the intangible assets recorded.

(Dollars in thousands)	FNBPA		LCB
	Acquisition		Acquisition
	Core		Core
	Deposit		Deposit
	Intangible		Intangible
Beginning Balance at Acquisition Date	$	303	$	289
Amortization expense recorded prior to December 31, 2018		152		35
Amortization expense recorded in Years ended:
December 31, 2019		38		49
December 31, 2020		33		44
Unamortized balance as of December 31, 2020	$	80	$	161
Scheduled Amortization expense for years ended:
December 31, 2021	$	27	$	39
December 31, 2022		22		33
December 31, 2023		16		28
December 31, 2024		10		23
December 31, 2025		5		17
After December 31, 2025		—		21