Note 8 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 8. Goodwill and Other Intangible Assets

Goodwill

The Company has one reporting unit for goodwill impairment testing purposes, Community Banking. The Company performed its annual assessment of goodwill as of October 31, 2022, and concluded that the carrying value of goodwill was not impaired. No events have occurred after the analysis to indicate potential impairment.

As of December 31, 2022, the Company's goodwill totaled $129.57 million and was the same for both 2021 and 2020.

Other Intangible Assets

As of December 31, 2022, the remaining lives of core deposit intangibles ranged from 2.50 years to 7 years with a weighted average remaining life of 5.87 years.  The following table presents the components of other intangible assets as of the dates indicated:

	December 31,
	2022			2021			2020
(Amounts in thousands)
Core deposit intangibles	$	12,674		$	12,674		$	12,674
Accumulated amortization		(8,498	)		(7,052	)		(5,605	)
Total other intangible assets, net	$	4,176		$	5,622		$	7,069

Amortization expense for other intangible assets was $1.45 million in 2022,  2021, and in 2020.

The following schedule presents the estimated amortization expense for intangible assets, by year, as of December 31, 2022:

(Amounts in thousands)
2023	$	878
2024		856
2025		647
2026		449
2027		449
2028 and thereafter		897
Total estimated amortization expense	$	4,176