Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2013

Goodwill And Other Intangible Assets

Goodwill and Other Intangible Assets

Note 11 – Goodwill and Other Intangible Assets

The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets as of June 30, 2013, December 31, 2012, and June 30, 2012 and the carrying amount of unamortized intangible assets as of those same dates. In the first quarter of 2013, the Company recorded a core deposit premium intangible of $586,000 in connection with the acquisition of two branches, which is being amortized on a straight-line basis over the estimated life of the related deposits of seven years.

	June 30, 2013				December 31, 2012				June 30, 2012
($ in thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable intangible assets:
Customer lists	$	678		439		678		417		678		387
Core deposit premiums		8,560		5,525		7,974		5,128		7,867		4,707
Total	$	9,238		5,964		8,652		5,545		8,545		5,094
Unamortizable intangible assets:
Goodwill	$	65,835				65,835				65,835

Amortization expense totaled $220,000 and $223,000 for the three months ended June 30, 2013 and 2012, respectively. Amortization expense totaled $419,000 and $446,000 for the six months ended June 30, 2013 and 2012, respectively.

The following table presents the estimated amortization expense for the last two quarters of calendar year 2013 and for each of the four calendar years ending December 31, 2017 and the estimated amount amortizable thereafter. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortized intangible assets.

($ in thousands)	Estimated Amortization Expense
July 1 to December 31, 2013	$	441
2014		777
2015		721
2016		654
2017		404
Thereafter		277
Total	$	3,274