Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

NOTE 6 Goodwill and Other Intangible Assets

The following table summarizes the carrying amount of goodwill, by segment, as of September 30, 2022 and December 31, 2021:

	September 30,		December 31,
(dollars in thousands)	2022		2021
Banking	$	34,854	$	20,131
Retirement and benefit services		11,206		11,359
Total goodwill	$	46,060	$	31,490

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, 2022.

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

	September 30, 2022						December 31, 2021
(dollars in thousands)	Gross Carrying Amount		Accumulated Amortization		Total		Gross Carrying Amount		Accumulated Amortization		Total
Identifiable customer intangibles	$	41,423	$	(24,920)	$	16,503	$	42,057	$	(21,807)	$	20,250
Core deposit intangible assets		7,592		(316)		7,276		—		—		—
Total intangible assets	$	49,015	$	(25,236)	$	23,779	$	42,057	$	(21,807)	$	20,250

Amortization of intangible assets was $1.3 million and $1.1 million for the three months ended September 30, 2022, and 2021, respectively. Amortization of intangible assets was $3.4 million and $3.3 million for the nine months ended September 30, 2022, and 2021, respectively.