Note 7 - Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 7 Goodwill and Other Intangible Assets

The following table summarizes the carrying amount of goodwill, by segment, as of September 30, 2024 and December 31, 2023:

	September 30,		December 31,
(dollars in thousands)	2024		2023
Banking	$	35,260	$	35,260
Retirement and benefit services		11,523		11,523
Total goodwill	$	46,783	$	46,783

Goodwill is evaluated for impairment on an annual basis, at a minimum, and more frequently when the economic environment warrants. The Company determined that there was no goodwill impairment as of September 30, 2024.

The gross carrying amount and accumulated amortization for each type of identifiable intangible asset, as of September 30, 2024 and December 31, 2023, were as follows:

	September 30, 2024							December 31, 2023
(dollars in thousands)	Gross Carrying Amount		Accumulated Amortization			Total		Gross Carrying Amount		Accumulated Amortization			Total
Identifiable customer intangibles	$	41,423	$	(32,982	)	$	8,441	$	41,423	$	(29,959	)	$	11,464
Core deposit intangible assets		7,592		(2,847	)		4,745		7,592		(1,898	)		5,694
Total intangible assets	$	49,015	$	(35,829	)	$	13,186	$	49,015	$	(31,857	)	$	17,158

Amortization of intangible assets was $1.3 million for both the three months ended September 30, 2024 and 2023. Amortization of intangible assets was $4.0 million for both the nine months ended September 30, 2024 and 2023.