Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2025

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, 2025 and December 31, 2024 (in thousands):

	March 31, 2025							December 31, 2024
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
MSRs	$	2,468	$	(1,765	)	$	703	$	2,478	$	(1,717	)	$	761
Core deposit intangibles		4,713		(2,709	)		2,004		4,713		(2,582	)		2,131
Total amortized intangible assets	$	7,181	$	(4,474	)	$	2,707	$	7,191	$	(4,299	)	$	2,892
Unamortized intangible assets:
Goodwill	$	85,758						$	85,758

(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). The Company based its projections of amortization expense shown below on existing asset balances at March 31, 2025. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Total
Three months ended March 31, 2025 (actual)	$	70	$	127	$	197
Three months ended March 31, 2024 (actual)		80		149		229
Estimate for year ending December 31,
Remaining 2025		181		351		532
2026		196		395		591
2027		140		339		479
2028		94		284		378
2029		56		230		286
Thereafter		36		405		441
Total	$	703	$	2,004	$	2,707