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Note 8 - Core Deposit and Customer List Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
(8) | Core Deposit and Customer List Intangible Assets
Bancorp recorded CDI assets of $13 million, $4 million, $2 million and $3 million in association with the acquisition of CB in 2022, KB in 2021, KSB in 2019 and TBOC in 2013, respectively. Changes in the net carrying amount of CDI assets follow:
Years ended December 31, (in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Balance at beginning of period |  | $ | 5,596 |  |  | $ | 1,962 |  |  | $ | 2,285 |
Additions from acquisitions |  |  | 12,724 |  |  |  | 3,404 |  |  |  | — |
Provisional period adjustments |  |  | — |  |  |  | 999 |  |  |  | — |
Amortized to expense |  |  | (3,362 | ) |  |  | (769 | ) |  |  | (323 | )
Balance at end of period |  | $ | 14,958 |  |  | $ | 5,596 |  |  | $ | 1,962 |
As a result of the CB acquisition, Bancorp also recorded intangible assets totaling $14 million associated with the customer lists of the acquired WM&T and LFA businesses. Of this total, $12 million was recorded for WM&T and $2 million was recorded for LFA. Similar to CDI assets, these intangibles also amortize over their estimated useful lives. No such activity was recorded for the years ended December 31, 2021 and 2020. As previously noted, Bancorp’s interest in LFA was sold effective December 31, 2022. As a result, the remaining CLI associated with LFA was written off at the date of sale and ultimately reflected as a component of the $870,000 pre-tax loss on the disposition of LFA that was recorded on Bancorp’s consolidated income statements for the year ended December 31, 2022. The carrying amount of the CLI assets follows:
Year ended December 31, (in thousands) |  | 2022 |
Balance at beginning of period |  | $ | - |
Additions from acquisitions |  |  | 14,360 |
Provisional period adjustments |  |  | — |
Disposition of LFA |  |  | (2,146 | )
Amortized to expense |  |  | (2,182 | )
Balance at end of period |  | $ | 10,032 |
Future CDI and CLI amortization expense is estimated as follows:
(in thousands) |  | CDI |  |  | CLI |
2023 |  | $ | 3,015 |  |  | $ | 1,672 |
2024 |  |  | 2,686 |  |  |  | 1,520 |
2025 |  |  | 2,375 |  |  |  | 1,368 |
2026 |  |  | 2,063 |  |  |  | 1,216 |
2027 |  |  | 1,752 |  |  |  | 1,064 |
2028 |  |  | 1,339 |  |  |  | 912 |
2029 |  |  | 888 |  |  |  | 760 |
2030 |  |  | 576 |  |  |  | 608 |
2031 |  |  | 264 |  |  |  | 456 |
2032 |  |  | - |  |  |  | 304 |
2033 |  |  | - |  |  |  | 152 |
Total future expense |  | $ | 14,958 |  |  | $ | 10,032 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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