Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2019

Goodwill and Other Intangible Assets [Abstract]

Gross Carrying Value and Accumulated Amortization of Intangible Assets

The following table provides the gross carrying value and accumulated amortization of intangible assets as of September 30, 2019 and December 31, 2018 (in thousands):

	September 30, 2019							December 31, 2018
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
MSRs	$	1,838	$	(1,204	)	$	634	$	1,725	$	(1,066	)	$	659
Core deposit intangibles		1,786		(1,025	)		761		1,786		(851	)		935
Covenant not to compete		125		(120	)		5		125		(96	)		29
Total amortized intangible assets	$	3,749	$	(2,349	)	$	1,400	$	3,636	$	(2,013	)	$	1,623
Unamortized intangible assets:
Goodwill	$	23,296						$	23,296
(1) Excludes fully amortized intangible assets

Future Amortization Expense for Amortized Intangible Assets

The following table provides the current year and estimated future amortization expense for amortized intangible assets for the next five years (in thousands). We based our projections of amortization expense shown below on existing asset balances at September 30, 2019. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Covenant not to compete		Total
Three months ended September 30, 2019 (actual)	$	44	$	58	$	8	$	110
Nine months ended September 30, 2019 (actual)		138		174		24		336
Three months ended September 30, 2018 (actual)		46		66		8		120
Nine months ended September 30, 2018 (actual)		143		200		24		367
Estimate for year ending December 31,
Remaining 2019		48		56		5		109
2020		167		197		-		364
2021		131		165		-		296
2022		100		133		-		233
2023		73		100		-		173