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Goodwill and intangible assets | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and intangible assets | Goodwill and intangible assets:
Goodwill |  |  |  |  |  |  |  |
Balance at December 31, 2019 |  | $ | 169,051 |  |  |  |  |  |  |
Addition from acquisition of Farmers National (see Note 2) |  | 6,390 |  |  |  |  |  |  |
Addition from merger with Franklin (see Note 2) |  | 60,645 |  |  |  |  |  |  |
Balance at September 30, 2020 |  | $ | 236,086 |  |  |  |  |  |  |
Core deposit and other intangibles |  |  |  |  |  |  |  |
Balance at December 31, 2019 |  | $ | 17,589 |  |  |  |  |  |  |
Addition of core deposit intangible from acquisition of Farmers National (see Note 2) |  | 2,490 |  |  |  |  |  |  |
Addition of core deposit intangible from merger with Franklin (see Note 2) |  | 7,670 |  |  |  |  |  |  |
Less: amortization expense |  | (3,825) |  |  |  |  |  |  |
Balance at September 30, 2020 |  | $ | 23,924 |  |  |  |  |  |  |
Goodwill is tested annually, or more often if circumstances warrant, for impairment. Impairment exists when a reporting unit's carrying value exceeds its fair value. The Company performed a qualitative test of goodwill for impairment as of December 31, 2019 and determined there to be no impairment. Given the significant economic decline during the first nine months of 2020 due to COVID-19 and the resulting negative impact on most businesses, including banking, management determined it would be prudent to evaluate any adverse impact to the Company's recorded goodwill. As of September 30, 2020, the Company performed a qualitative assessment and determined it was more likely than not that the fair value of the reporting unit exceeded its carrying value, including goodwill. As such, no impairment was indicated. The Company recorded $100 in relief of goodwill during the nine months ended September 30, 2019, related to the sale of the TPO mortgage delivery channel. Core deposit and other intangibles include core deposit intangibles, customer base trust intangible and manufactured housing servicing intangible. The composition of core deposit and other intangibles as of September 30, 2020 and December 31, 2019 is as follows:
|  | Core deposit and other intangibles |  |
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  |
September 30, 2020 |  |  |  |  |  |  |  |
Core deposit intangible |  | $ | 59,835 |  |  | $ | (37,403) |  |  | $ | 22,432 |  |  |
Customer base trust intangible |  | 1,600 |  |  | (507) |  |  | 1,093 |  |  |
Manufactured housing servicing intangible |  | 1,088 |  |  | (689) |  |  | 399 |  |  |
Total core deposit and other intangibles |  | $ | 62,523 |  |  | $ | (38,599) |  |  | $ | 23,924 |  |  |
December 31, 2019 |  |  |  |  |  |  |  |
Core deposit intangible |  | $ | 49,675 |  |  | $ | (33,861) |  |  | $ | 15,814 |  |  |
Customer base trust intangible |  | 1,600 |  |  | (387) |  |  | 1,213 |  |  |
Manufactured housing servicing intangible |  | 1,088 |  |  | (526) |  |  | 562 |  |  |
Total core deposit and other intangibles |  | $ | 52,363 |  |  | $ | (34,774) |  |  | $ | 17,589 |  |  |
During the first quarter of 2020, the Company recorded $2,490 of core deposit intangibles resulting from the Farmers National acquisition, which is being amortized over a weighted average life of approximately 4 years. During the third quarter of 2020, the Company recorded $7,670 of core deposit intangibles resulting from the Franklin merger, which is being amortized over a weighted average life of approximately 4 years. The estimated aggregate future amortization expense of core deposit and other intangibles is as follows:
Remainder of 2020 |  | $ | 1,494 |  |
2021 |  | 5,477 |  |
2022 |  | 4,586 |  |
2023 |  | 3,658 |  |
2024 |  | 2,946 |  |
Thereafter |  | 5,763 |  |
|  | $ | 23,924 |  |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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