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Goodwill And Other Intangible Assets | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill And Other Intangible Assets | Goodwill and Other Intangible Assets The following table presents information about the Company's intangible assets which have estimable useful lives.
| June 30, 2025 |  | December 31, 2024
(In thousands) | Gross Carrying Amount | Accumulated Amortization | Valuation Allowance | Net Amount |  | Gross Carrying Amount | Accumulated Amortization | Valuation Allowance | Net Amount
Amortizable intangible assets: |  |  |  |  |  |  |  |  |
Core deposit premium | $ | 5,550 |  | $ | (5,365) |  | $ | — |  | $ | 185 |  |  | $ | 5,550 |  | $ | (5,286) |  | $ | — |  | $ | 264 |
Mortgage servicing rights | 13,611 |  | (4,063) |  | — |  | 9,548 |  |  | 13,673 |  | (3,905) |  | — |  | 9,768 |
Total | $ | 19,161 |  | $ | (9,428) |  | $ | — |  | $ | 9,733 |  |  | $ | 19,223 |  | $ | (9,191) |  | $ | — |  | $ | 10,032 |
Aggregate amortization expense on intangible assets was $306 thousand and $320 thousand for the three month periods ended June 30, 2025 and 2024, respectively and was $644 thousand and $651 thousand for the six months ended June 30, 2025 and 2024, respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of June 30, 2025. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.
(In thousands) |
2025 | $ | 1,250 |
2026 | 1,116 |
2027 | 966 |
2028 | 841 |
2029 | 757 |
Changes in the carrying amount of goodwill and other intangible assets for the six month period ended June 30, 2025 are as follows:
(In thousands) | Goodwill | Easement | Core Deposit Premium | Mortgage Servicing Rights
Balance January 1, 2025 | $ | 146,539 |  | $ | 3,600 |  | $ | 264 |  | $ | 9,768 |
Originations, net of disposals | — |  | — |  | — |  | 345 |
Amortization | — |  | — |  | (79) |  | (565) |
Balance June 30, 2025 | $ | 146,539 |  | $ | 3,600 |  | $ | 185 |  | $ | 9,548 |
Goodwill allocated to the Company’s operating segments at June 30, 2025 and December 31, 2024 is shown below.
(In thousands) | June 30, 2025 | December 31, 2024
Consumer segment | $ | 70,721 |  | $ | 70,721 |
Commercial segment | 75,072 |  | 75,072 |
Wealth segment | 746 |  | 746 |
Total goodwill | $ | 146,539 |  | $ | 146,539 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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