Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020							December 31, 2019
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
Mortgage servicing rights (MSRs)	$	1,764	$	(1,125	)	$	639	$	1,718	$	(1,077	)	$	641
Core deposit intangibles		1,786		(1,131	)		655		1,786		(1,081	)		705
Covenant not to compete		125		(125	)		-		125		(125	)		-
Total amortized intangible assets	$	3,675	$	(2,381	)	$	1,294	$	3,629	$	(2,283	)	$	1,346
Unamortized intangible assets:
Goodwill	$	23,296						$	23,296

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 March 31, 2020. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Covenant not to compete		Total
Three months ended March 31, 2020 (actual)	$	48	$	50	$	-	$	98
Three months ended March 31, 2019 (actual)		48		58		8		114
Estimate for year ending December 31,
Remaining 2020		138		147		-		285
2021		141		165		-		306
2022		108		133		-		241
2023		80		100		-		180
2024		57		68		-		125
Thereafter		115		42		-		157
Total	$	639	$	655	$	-	$	1,294