Note 7 - Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 7.  GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and certain other intangible assets with indefinite useful lives are not amortized into net income over an estimated life, but rather are tested at least annually for impairment. Intangible assets determined to have definite useful lives are amortized over their estimated useful lives and also are subject to impairment testing. Our goodwill totaled $56.0 million at March 31, 2024 and December 31, 2023.

The following table presents the balance of other intangible assets at March 31, 2024 and December 31, 2023.

	Other Intangible Assets
Dollars in thousands	March 31, 2024		December 31, 2023
Identifiable intangible assets
Gross carrying amount	$	30,755	$	30,755
Less: accumulated amortization		13,346		12,359
Net carrying amount	$	17,409	$	18,396

We recorded amortization expense of $987,000 for the three months ended March 31, 2024 and $343,000 for the three months ended March 31, 2023, relative to our identifiable intangible assets.  

Amortization relative to our identifiable intangible assets is expected to approximate the following during the next five years and thereafter:

	Core Deposit
Dollars in thousands	Intangible
Nine month period ending December 31, 2024	$	2,682
Year ending December 31, 2025		3,258
Year ending December 31, 2026		2,846
Year ending December 31, 2027		2,433
Year ending December 31, 2028		2,021
Thereafter		4,099