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Note 5 - Core Deposit and Customer List Intangible Assets
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]
 

(5)

Core Deposit and Customer List Intangible Assets

 

Bancorp recorded initial CDI assets of $13 million, $4 million, $2 million and $3 million in association with the acquisitions of CB in 2022, KB in 2021, KSB in 2019 and TBOC in 2013, respectively.

 

Changes in the net carrying amount of CDIs follows:

 

   

Three months ended

    

Nine months ended

  
    September 30,    

September 30,

  

(in thousands)

  

2025

    

2024

    

2025

    

2024

  

Balance at beginning of period

   $ 7,833     $ 10,601     $ 8,978     $ 11,944  

Amortization

     (573 )     (672 )     (1,718 )     (2,015 )

Balance at end of period

   $ 7,260     $ 9,929     $ 7,260     $ 9,929  

 

As a result of the CB acquisition, Bancorp also recorded initial intangible assets totaling $14 million associated with the customer list of the acquired WM&T business. Similar to CDI assets, this intangible asset also amortizes over its estimated useful life.

 

Changes in the net carrying amount of the CLI follows:

 

   

Three months ended

    

Nine months ended

  
   

September 30,

    

September 30,

  

(in thousands)

  

2025

    

2024

    

2025

    

2024

  

Balance at beginning of period

   $ 6,156     $ 7,600     $ 6,840     $ 8,360  

Amortization

     (342 )     (380 )     (1,026 )     (1,140 )

Balance at end of period

   $ 5,814     $ 7,220     $ 5,814     $ 7,220  

 

Future CDI and CLI amortization expense is estimated as follows:

 

(in thousands)

  

CDI

    

CLI

  

Remainder of 2025

   $ 573     $ 342  

2026

     1,979       1,216  

2027

     1,668       1,064  

2028

     1,311       912  

2029

     888       760  

Thereafter

     841       1,520  

Total future expense

   $ 7,260     $ 5,814