Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company performs its annual impairment test of goodwill as of October 1^st of each year. See Note 1 for the Company’s accounting policy for goodwill and other intangible assets.

Based on volatility in the capital markets and overall economic conditions as a result of the COVID‐19 pandemic accompanied by a decline in the Company’s stock price, a quantitative assessment was performed for the Banking reporting unit in the third quarter of 2020. Based on this quantitative assessment, the Company concluded that goodwill was not impaired.

The Company completed a quantitative assessment in relation to the SDN reporting unit as of its 2020 annual test date and determined that goodwill was not impaired.

The Company completed qualitative assessments in relation to the Courier Capital and the HNP Capital reporting units as of their 2020 annual test date and determined it was not more likely than not that the fair value of these reporting units were less than their carrying values.

The results of the 2019 annual impairment tests for the Company’s reporting units indicated no goodwill impairment.

The results of the 2018 annual impairment test for the SDN reporting unit resulted in a goodwill impairment charge of $2.4 million during the quarter ended December 31, 2018. The results of the 2018 annual impairment tests for the Banking, Courier Capital and HNP Capital reporting units indicated no goodwill impairment.

Declines in the market value of the Company’s publicly traded stock price or declines in the Company’s ability to generate future cash flows may increase the potential that goodwill recorded on the Company’s consolidated statement of financial condition be designated as impaired and that the Company may incur a goodwill write-down in the future.

The change in the balance for goodwill during the years ended December 31 was as follows (in thousands):

	Banking		All Other⁽¹⁾		Total
Balance, January 1, 2019	$	48,536	$	17,526	$	66,062
No activity during the period	-			-		-
Balance, December 31, 2019		48,536		17,526		66,062
No activity during the period	-			-		-
Balance, December 31, 2020	$	48,536	$	17,526	$	66,062

The Company has other intangible assets that are amortized, consisting of core deposit intangibles and other intangibles (primarily related to customer relationships). Changes in the gross carrying amount, accumulated amortization and net book value for the years ended December 31 were as follows (in thousands):

	2020			2019
Core deposit intangibles:
Gross carrying amount	$	2,042		$	2,042
Accumulated amortization		(2,014	)		(1,944	)
Net book value	$	28		$	98

Other intangibles:
Gross carrying amount	$	13,883		$	13,883
Accumulated amortization		(6,184	)		(5,120	)
Net book value	$	7,699		$	8,763

Core deposit intangibles and other intangibles amortization expense was $70 thousand and $1.1 million, respectively, for the year ended December 31, 2020. Core deposit intangibles and other intangibles amortization expense was $115 thousand and $1.1 million, respectively, for the year ended December 31, 2019. Core deposit intangibles and other intangibles amortization expense was $160 thousand and $1.1 million, respectively, for the year ended December 31, 2018. Estimated amortization expense of other intangible assets for each of the next five years is as follows (in thousands):

2021	$	1,014
2022		923
2023		852
2024		783
2025		714