GOODWILL AND OTHER INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

The following table presents changes in the carrying amount of goodwill for the periods indicated:


	Year Ended December 31,
($ in thousands)	2021		2020		2019
Goodwill, beginning of the year	$	37,144	$	37,144	$	37,144
Goodwill from business combination	57,157		—		—



Goodwill, end of year	$	94,301	$	37,144	$	37,144
Accumulated impairment losses at end of year	$	2,100	$	2,100	$	2,100

At December 31, 2021, we had goodwill of $94.3 million, which included $57.2 million in goodwill recognized in the PMB Acquisition (refer to Note 2 — Business Combinations), an increase from $37.1 million at December 31, 2020. Goodwill also included accumulated impairment losses of $2.1 million recognized in 2017 as a result of us discontinuing our mortgage banking division.

There was no impairment of goodwill for the years ended December 31, 2021, 2020 and 2019.

Intangible assets, net are comprised of core deposit intangibles acquired in business combinations. Core deposit intangibles are amortized over their useful lives of ten years.

The following table presents changes in the carrying amount of intangible assets, net for the periods indicated:


	Year Ended December 31,
($ in thousands)	2021		2020		2019
Core deposit intangibles:
Balance, beginning of year	$	30,904	$	30,904	$	30,904
Core deposit intangibles acquired during the year	5,054		—		—
Balance, end of year	35,958		30,904		30,904
Accumulated amortization:
Balance, beginning of year	28,271		26,753		24,558
Amortization of intangible assets	1,276		1,518		2,195
Balance, end of year	29,547		28,271		26,753
Intangible assets, net	$	6,411	$	2,633	$	4,151

Core deposit intangibles are evaluated for impairment annually or whenever events occur or circumstances change indicating the carrying amount of the asset may not be recoverable, such as customer attrition. There was no impairment of core deposit intangibles for the years ended December 31, 2021, 2020 and 2019.

As of December 31, 2021, the weighted-average remaining amortization period for core deposit intangibles was approximately 8.1 years.

The following table presents estimated future amortization expenses as of December 31, 2021:


($ in thousands)	2022		2023		2024		2025		2026		2027 and After		Total
Estimated future amortization expense	$	1,715	$	1,234	$	838	$	523	$	464	$	1,637	$	6,411