Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 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 June 30, 2021 and December 31, 2020 (in thousands):

	June 30, 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	$	2,427	$	(1,270	)	$	1,157	$	2,153	$	(1,131	)	$	1,022
Core deposit intangibles		1,943		(1,395	)		548		1,943		(1,297	)		646
Total amortized intangible assets	$	4,370	$	(2,665	)	$	1,705	$	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 June 30, 2021. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Total
Three months ended June 30, 2021 (actual)	$	67	$	49	$	116
Six months ended June 30, 2021 (actual)		139		98		237
Three months ended June 30, 2020 (actual)		49		55		104
Six months ended June 30, 2020 (actual)		97		105		202
Estimate for year ending December 31,
Remaining 2021		157		94		251
2022		268		156		424
2023		213		121		334
2024		166		85		251
2025		125		50		175
Thereafter		228		42		270
Total	$	1,157	$	548	$	1,705