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Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Other Intangible Assets

Note 9 — Goodwill and Other Intangible Assets

Goodwill. The goodwill balance at both December 31, 2022 and 2021 was $56.6 million.

Other Intangible Assets. The following table sets forth the other intangible assets activity (in thousands):


	December 31, 2022						December 31, 2021
	Gross						Gross
	Carrying		Accumulated				Carrying		Accumulated
	Value		Amortization		Total		Value		Amortization		Total
Finite‑lived intangible assets:
Broker relationships	$	25,000	$	(20,182)	$	4,818	$	25,000	$	(17,057)	$	7,943
Borrower relationships		14,400		(9,300)		5,100		14,400		(7,860)		6,540
Below market leases		4,010		(3,485)		525		4,010		(3,359)		651
Infinite‑lived intangible assets:
Fannie Mae DUS license		17,100		—		17,100		17,100		—		17,100
Freddie Mac Program Plus license		8,700		—		8,700		8,700		—		8,700
FHA license		3,200		—		3,200		3,200		—		3,200
	$	72,410	$	(32,967)	$	39,443	$	72,410	$	(28,276)	$	44,134

The amortization expense recorded for these intangible assets were $4.7 million, $4.7 million and $5.3 million during 2022, 2021 and 2020, respectively.

At December 31, 2022, the weighted average remaining lives of our amortizable finite-lived intangible assets and the estimated amortization expense for each of the next five years are as follows ($ in thousands):


		Estimated Amortization Expense for the
		Years Ending December 31,
	Wtd. Avg.
	Remaining Life
	(in years)	2023		2024		2025		2026		2027
Finite‑lived intangible assets:
Broker relationships	1.5	$	3,125	$	1,693	$	—	$	—	$	—
Borrower relationships	3.5		1,440		1,440		1,440		780		—
Below market leases	4.2		126		126		126		126		21
	2.7	$	4,691	$	3,259	$	1,566	$	906	$	21

See Note 20 for details of goodwill and other intangible assets by segment.