Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

Note 6 – Goodwill and Other Intangible Assets

The following table provides the gross carrying value and accumulated amortization of intangible assets as of March 31, 2021 and December 31, 2020 (in thousands):

	March 31, 2021							December 31, 2020
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
MSRs	$	2,302	$	(1,203	)	$	1,099	$	2,153	$	(1,131	)	$	1,022
Core deposit intangibles		1,943		(1,346	)		597		1,943		(1,297	)		646
Total amortized intangible assets	$	4,245	$	(2,549	)	$	1,696	$	4,096	$	(2,428	)	$	1,668
Unamortized intangible assets:
Goodwill	$	31,376						$	31,376

(1) Excludes fully 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, 2021. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Total
Three months ended March 31, 2021 (actual)	$	72	$	49	$	121
Three months ended March 31, 2020 (actual)		48		50		98
Estimate for year ending December 31,
Remaining 2021		219		143		362
2022		241		156		397
2023		190		121		311
2024		147		85		232
2025		110		50		160
Thereafter		192		42		234
Total	$	1,099	$	597	$	1,696