5.	Goodwill and Intangible Assets

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

March 31, 2020

and

December 31, 2019

(Dollar amounts in thousands)	March 31, 2020				December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Goodwill	$	19,460	$	—	$	19,460	$	—
Core deposit intangibles		5,634		4,429		5,634		4,387
Total	$	25,094	$	4,429	$	25,094	$	4,387

Goodwill resulted from

five

acquisitions. 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 value of goodwill exceeds its fair value. The Corporation has selected

November 30

as the date to perform the annual impairment test.

goodwill impairment charges were recorded during

2019

or in the

first

three

months of

2020

. Although the annual review of goodwill revealed

impairment consideration, based on current economic conditions related to COVID-

19,

management performed an interim assessment as of

March 31, 2020.

Management concluded that goodwill was

not

impaired at this date. While it is impossible to know the future impact of the evolving economic conditions, the impact could be material.

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. During the

three

month periods ended

March 31, 2020

and

2019

, respectively, the Corporation recorded intangible amortization expense totaling

$42,000

and

$46,000.