Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

NOTE 8 Goodwill and Other Intangible Assets

As of December 31, 2022 and 2021, goodwill totaled $47.1 million and $31.5 million, respectively.

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


	December 31,		December 31,
(dollars in thousands)	2022		2021
Banking (1)	$	35,260	$	20,131
Retirement and benefit services		11,827		11,359
Total goodwill	$	47,087	$	31,490

(1)	Goodwill increases consisted of the Metro Phoenix Bank acquisition purchase accounting adjustments, where were finalized in the fourth quarter of 2022.

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


	December 31, 2022						December 31, 2021
(dollars in thousands)	Gross Carrying Amount		Accumulated Amortization		Total		Gross Carrying Amount		Accumulated Amortization		Total
Identifiable customer intangibles	$	41,423	$	(25,927)	$	15,496	$	42,057	$	(21,807)	$	20,250
Core deposit intangible assets		7,592		(633)		6,959		—		—		—
Total intangible assets	$	49,015	$	(26,560)	$	22,455	$	42,057	$	(21,807)	$	20,250

Aggregate amortization expense for the years ended December 31, 2022, 2021, and 2020 was $4.8 million, $4.4 million, and $4.0 million, respectively.

Estimated aggregate amortization expense for future years is as follows: