Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2022

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, 2022 and December 31, 2021 (in thousands):

	March 31, 2022							December 31, 2021
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
MSRs	$	2,541	$	(1,408	)	$	1,133	$	2,499	$	(1,326	)	$	1,173
Core deposit intangibles		1,943		(1,529	)		414		1,943		(1,489	)		454
Total amortized intangible assets	$	4,484	$	(2,937	)	$	1,547	$	4,442	$	(2,815	)	$	1,627
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, 2022. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Total
Three months ended March 31, 2022 (actual)	$	82	$	40	$	122
Three months ended March 31, 2021 (actual)		72		49		121
Estimate for year ending December 31,
Remaining 2022		230		116		346
2023		252		121		373
2024		199		86		285
2025		152		50		202
2026		112		17		129
Thereafter		188		24		212
Total	$	1,133	$	414	$	1,547