6.	Goodwill and Intangible Assets

The following table summarizes the Corporation’s acquired goodwill and intangible assets as of

December 31:

(Dollar amounts in thousands)	December 31, 2019				December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Goodwill	$	19,460	$	—	$	19,448	$	—
Core deposit intangibles		5,634		4,387		5,634		4,211
Total	$	25,094	$	4,387	$	25,082	$	4,211

Goodwill resulted from

five

acquisitions. During

2018,

the Corporation recorded

$9.2

million of goodwill related to the acquisition of CFB

(see Note

). Goodwill represents the excess of the total purchase price paid for the acquisitions over the fair value of the identifiable assets acquired, net of the fair value of the liabilities assumed. Goodwill is

not

amortized but is evaluated for impairment on an annual basis or whenever events or changes in circumstances indicate the carrying value

may

not

be recoverable. Impairment exists when a reporting unit’s carrying amount exceeds its fair value. The Corporation has selected

November 30

as the date to perform the annual impairment test.

goodwill impairment charges were recorded in

2019

2018.

Goodwill is the only intangible asset with an indefinite life on the Corporation’s balance sheet.

The core deposit intangible asset, resulting from

three

acquisitions, is amortized over a weighted average estimated life of the related deposits and is

not

estimated to have a significant residual value. The Corporation recorded intangible amortization expense totaling

$176,000

and

$266,000

2019

and

2018,

respectively.

The estimated amortization expense of the core deposit intangible for the years ending

December 31

is as follows:

(Dollar amounts in thousands)	Amortization
	Expense
2020	$	164
2021		154
2022		149
2023		149
2024		149
Thereafter		482
Total	$	1,247