Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30, 2023 and December 31, 2022 (in thousands):

	September 30, 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	$	2,607	$	(1,590	)	$	1,017	$	2,336	$	(1,362	)	$	974
Core deposit intangibles		4,713		(1,864	)		2,849		1,943		(1,645	)		298
Total amortized intangible assets	$	7,320	$	(3,454	)	$	3,866	$	4,279	$	(3,007	)	$	1,272
Unamortized intangible assets:
Goodwill	$	84,758						$	31,376

(1) Excludes fully amortized intangible assets

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). The Company based its projections of amortization expense shown below on existing asset balances at September 30, 2023. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Total
Three months ended September 30, 2023 (actual)	$	80	$	157	$	237
Nine months ended September 30, 2023 (actual)		228		219		447
Three months ended September 30, 2022 (actual)		74		40		114
Nine months ended September 30, 2022 (actual)		234		120		354
Estimate for year ending December 31,
Remaining 2023		76		154		230
2024		277		564		841
2025		226		478		704
2026		174		395		569
2027		118		339		457
Thereafter		146		919		1,065
Total	$	1,017	$	2,849	$	3,866