Changes in the carrying amount of the Company’s goodwill and core deposit intangibles for the six months ended June 30, 2024 and the year ended December 31, 2023 were as follows:


	Goodwill		Core Deposit Intangibles
	(Dollars in thousands)
Balance as of December 31, 2022	$	3,231,636	$	51,348
Less:
Amortization		—		(12,676	)
Add:
First Bancshares merger		164,450		25,322
Balance as of December 31, 2023		3,396,086		63,994
Less:
Amortization		—		(7,393	)
Add:
Measurement period adjustment of First Bancshares merger		316		—
Lone Star State Bancshares merger		107,705		17,723
Balance as of June 30, 2024	$	3,504,107	$	74,324

Goodwill is recorded as of the acquisition date of each entity. The Company may record subsequent adjustments to goodwill for amounts undeterminable at acquisition date, such as deferred taxes and real estate valuations, and therefore the goodwill amounts may change accordingly. The Company initially records the total premium paid on acquisitions as goodwill. After finalizing the valuation, core deposit intangibles are identified and reclassified from goodwill to core deposit intangibles on the balance sheet. This reclassification has no effect on total assets, liabilities, shareholders’ equity, net income or cash flows. Management performs an evaluation annually, and more frequently if a triggering event occurs, of whether any impairment of the goodwill or core deposit intangibles has occurred. If any such impairment is determined, a write-down is recorded. As of June 30, 2024, there was no impairment recorded on goodwill and core deposit intangibles.

The measurement period for the Company to determine the fair value of acquired identifiable assets and assumed liabilities will be at the end of the earlier of (1) twelve months from the date of acquisition or (2) as soon as the Company receives the information it was seeking about facts and circumstances that existed as of the date of acquisition.

Core deposit intangibles are being amortized on a non-pro rata basis over their estimated lives, which the Company believes is between 10 and 15 years. Amortization expense related to intangible assets totaled $4.2 million and $3.2 million for the three months ended June 30, 2024 and 2023, respectively, and $7.4 million and $5.5 million for the six months ended June 30, 2024 and 2023, respectively. The estimated aggregate future amortization expense for core deposit intangibles remaining as of June 30, 2024 is as follows (dollars in thousands):


Remaining 2024	$	8,277
2025		14,441
2026		12,763
2027		11,262
2028		9,958
Thereafter		17,623
Total	$	74,324