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GOODWILL AND OTHER INTANGIBLES | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLES | GOODWILL AND OTHER INTANGIBLES Goodwill Goodwill represents the excess consideration paid for net assets acquired in a business combination over their fair values. At June 30, 2023 and December 31, 2022, we had goodwill of $114.3 million. The following table presents changes in the carrying amount of goodwill for the periods indicated:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
($ in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Goodwill, beginning of period |  | $ | 114,312 |  |  | $ | 95,127 |  |  | $ | 114,312 |  |  | $ | 94,301 |
Goodwill adjustments for purchase accounting |  | — |  |  | — |  |  | — |  |  | 826 |
Goodwill, end of period |  | $ | 114,312 |  |  | $ | 95,127 |  |  | $ | 114,312 |  |  | $ | 95,127 |
The acquisition of Deepstack in the third quarter of 2022 resulted in the recognition of $18.2 million in goodwill. We also adjusted goodwill in the first quarter of 2022 as a result of updates to the initial fair value of core deposit intangibles and finalization of income tax returns related to the acquisition of PMB. We evaluate goodwill for impairment as of October 1 each year, and more frequently if events or circumstances indicate that there may be impairment. We completed our most recent annual goodwill impairment test as of October 1, 2022 and determined that no goodwill impairment existed. For the three and six months ended June 30, 2023, we analyzed indicators related to potential goodwill impairment due to volatility in the financial markets and recent events in the banking sector. Based on this analysis, we did not identify any impairment to goodwill. Other Intangibles Other intangibles are comprised of the following at June 30, 2023 and December 31, 2022:
($ in thousands) |  | June 30, 2023 |  | December 31, 2022
Core deposit intangibles |  | $ | 3,363 |  |  | $ | 3,932 |
Developed technology |  | 2,357 |  |  | 2,637 |
Other intangibles |  | 883 |  |  | 957 |
Total other intangibles |  | $ | 6,603 |  |  | $ | 7,526 |
Other intangibles are amortized over their estimated useful lives and reviewed for impairment at least quarterly. As of June 30, 2023, the weighted average remaining amortization period for core deposit intangibles was approximately 6.3 years. Amortization periods for developed technology and other intangibles acquired in the acquisition of Deepstack have useful lives ranging from 3 to 10 years. The following table presents changes in the carrying amount of other intangibles for the periods indicated:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
($ in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Other intangibles: |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 38,778 |  |  | $ | 34,978 |  |  | $ | 38,778 |  |  | $ | 35,958 |
Purchase accounting adjustments |  | — |  |  | — |  |  | — |  |  | (980) |
Balance, end of period |  | 38,778 |  |  | 34,978 |  |  | 38,778 |  |  | 34,978 |
Accumulated amortization: |  |  |  |  |  |  |  |
Balance, beginning of period |  | 31,713 |  |  | 29,988 |  |  | 31,252 |  |  | 29,547 |
Amortization of other intangibles |  | 462 |  |  | 313 |  |  | 923 |  |  | 754 |
Balance, end of period |  | 32,175 |  |  | 30,301 |  |  | 32,175 |  |  | 30,301 |
Other intangibles |  | $ | 6,603 |  |  | $ | 4,677 |  |  | $ | 6,603 |  |  | $ | 4,677 |
The following table presents estimated future amortization expense of other intangibles as of June 30, 2023:
($ in thousands) |  | Remainder of 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 and After |  | Total
Estimated future amortization expense |  | $ | 876 |  |  | $ | 1,425 |  |  | $ | 1,107 |  |  | $ | 1,013 |  |  | $ | 811 |  |  | $ | 1,371 |  |  | $ | 6,603 |

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