Note 6 - Intangible Assets - Core Deposit Intangible

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

6.          Intangible Assets – Core Deposit Intangible

The Corporation recorded a core deposit intangible asset in 2025 related to the deposit premium paid for the acquisition of Northumberland Bancorp’s subsidiary, Northumberland National Bank.  This intangible asset is being amortized on a sum of the years digits method over 10 years and has a net carrying value of $14,218,000 as of September 30, 2025.  The recoverability of the carrying value is evaluated on an ongoing basis, and permanent declines in value, if any, are charged to expense.  Amortization of the core deposit intangible amounted to $444,000 for the quarter ended September 30, 2025. 

The estimated amortization expense of the core deposit intangible over its remaining life is as follows:

In Thousands
2025	$	666
2026		2,555
2027		2,288
2028		2,021
2029		1,755
Thereafter		4,933
Total	$	14,218