Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Other Intangible Assets

NOTE 5 Goodwill and Other Intangible Assets

The following table summarizes the carrying amount of goodwill, by segment, as of September 30, 2020 and December 31, 2019:


	September 30,		December 31,
(dollars in thousands)	2020		2019
Banking	$	20,131	$	20,131
Retirement and benefit services		7,198		7,198
Total goodwill	$	27,329	$	27,329

The gross carrying amount and accumulated amortization for each type of identifiable intangible asset are as follows:


	September 30, 2020						December 31, 2019
(dollars in thousands)	Gross Carrying Amount		Accumulated Amortization		Total		Gross Carrying Amount		Accumulated Amortization		Total
Identifiable customer intangibles	$	31,857	$	(16,689)	$	15,168	$	31,857	$	(14,287)	$	17,570
Core deposit intangible assets		3,793		(3,540)		253		4,993		(4,172)		821
Total intangible assets	$	35,650	$	(20,229)	$	15,421	$	36,850	$	(18,459)	$	18,391

Amortization of intangible assets was $1.0 million for each of the three months ended September 30, 2020, and 2019, respectively. Amortization of intangible assets was $3.0 and $3.1 million for the nine months ended September 30, 2020, and 2019, respectively.

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, 2020.