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Note 8 - Core Deposit and Customer List Intangible Assets | 12 Months Ended
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Dec. 31, 2023
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) |  | 2023 |  |  | 2022 |  |  | 2021 |
Balance at beginning of period |  | $ | 14,958 |  |  | $ | 5,596 |  |  | $ | 1,962 |
Added from acquisition |  |  | — |  |  |  | 12,724 |  |  |  | 3,405 |
Provisional period adjustment |  |  | — |  |  |  | — |  |  |  | 999 |
Amortized to expense |  |  | (3,014 | ) |  |  | (3,362 | ) |  |  | (770 | )
Balance at end of period |  | $ | 11,944 |  |  | $ | 14,958 |  |  | $ | 5,596 |
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 attributed to WM&T and $2 million was attributed to LFA. Similar to CDI assets, these intangibles also amortize over their estimated useful lives. 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 fourth quarter and year ended December 31, 2022. The carrying amount of the CLI assets follows:
Year ended December 31, (in thousands) |  | 2023 |  |  | 2022 |
Balance at beginning of period |  | $ | 10,032 |  |  | $ | - |
Added from acquisition |  |  | — |  |  |  | 14,360 |
Provisional period adjustment |  |  | — |  |  |  | — |
Disposition of LFA |  |  | — |  |  |  | (2,146 | )
Amortized to expense |  |  | (1,672 | ) |  |  | (2,182 | )
Balance at end of period |  | $ | 8,360 |  |  | $ | 10,032 |
Future CDI and CLI amortization expense is estimated as follows:
(in thousands) |  | CDI |  |  | CLI |
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 |  |  | 265 |  |  |  | 456 |
2032 |  |  | - |  |  |  | 304 |
2033 |  |  | - |  |  |  | 152 |
Total future amortization expense |  | $ | 11,944 |  |  | $ | 8,360 |

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