Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2023

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, 2023 and December 31, 2022 (in thousands):

	March 31, 2023							December 31, 2022
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
MSRs	$	2,350	$	(1,436	)	$	914	$	2,336	$	(1,362	)	$	974
Core deposit intangibles		1,943		(1,676	)		267		1,943		(1,645	)		298
Total amortized intangible assets	$	4,293	$	(3,112	)	$	1,181	$	4,279	$	(3,007	)	$	1,272
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, 2023. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Total
Three months ended March 31, 2023 (actual)	$	73	$	31	$	104
Three months ended March 31, 2022 (actual)		82		40		122
Estimate for year ending December 31,
Remaining 2023		197		91		288
2024		214		86		300
2025		165		50		215
2026		122		17		139
2027		89		12		101
Thereafter		127		11		138
Total	$	914	$	267	$	1,181