Core Deposits and Intangible Assets

3 Months Ended

Mar. 31, 2024

Core Deposits and Intangible Assets

Core Deposits and Intangible Assets

Note 9:           Core Deposits and Intangible Assets

The following table shows the changes in the carrying amount of goodwill for March 31, 2024 and December 31, 2023 (in thousands):

	March 31,		December 31,
	2024		2023
Balance beginning of year	$	682	$	682
Additions from acquisition		—		—
Balance, end of period	$	682	$	682

Intangible assets in the consolidated balance sheets at March 31, 2024 and December 31, 2023 were as follows (in thousands):

	Three Months Ended March 31, 2024				Year Ended December 31, 2023
	Gross				Gross
	Intangible		Accumulated	Net Intangible	Intangible	Accumulated	Net Intangible
	Assets		Amortization	Assets	Assets	Amortization	Assets
Core deposit intangibles	$	1,041	819	222	1,041	781	260

The estimated aggregate future amortization expense for each of the next two years for intangible assets remaining as of March 31, 2024 is as follows (in thousands):

2024	$	114
2025		108

At each reporting date between annual goodwill impairment tests, the Company considers potential indicators of impairment. At the conclusion of the assessment, the Company determined that as of March 31, 2024 it was more likely than not that the fair value exceeded its carrying values. The Company will continue to monitor the overall economic conditions and any other triggering events or circumstances that may indicate an impairment of goodwill in the future.