GOODWILL AND OTHER INTANGIBLE ASSETS

The Company recognized core deposit intangible assets of $3.6 million with the acquisition of County First Bank. Core deposit intangible is amortized on an accelerated basis over its estimated life of 8 years. Amortization expense related to intangible assets totaled $688,000 and $784,000 for the years ended December 31, 2019 and 2018.

Goodwill and other intangible assets are presented in the tables below.



(dollars in thousands)	As of December 31, 2019		As of December 31, 2018

Goodwill	$	10,835	$	10,835



	As of December 31, 2019							As of December 31, 2018
(dollars in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Intangible Asset		Gross Carrying Amount		Accumulated Amortization			Net Intangible Asset
Core deposit intangibles	$	3,590	$	(1,472	)	$	2,118	$	3,590	$	(784	)	$	2,806

Estimated amortization expense for other intangible for each of the next five years:



(dollars in thousands)
2020	$	591
2021	495
2022	398
2023	302
2024	205
Thereafter	127
	$	2,118

Based upon an annual impairment analysis performed during the fourth quarter of 2019 and 2018, it was determined that goodwill is not impaired as of December 31, 2019 and 2018. The Company has not identified any triggering events since the impairment evaluation that would indicate potential impairment.

Core deposit intangibles are evaluated for impairment if events and circumstances indicate a potential for impairment. No impairment charges were recorded for other intangible assets in any of the periods presented.