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Business Combinations, Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combinations, Goodwill and Intangible Assets [Abstract] |
Schedule of Total Consideration Transferred and Fair Value of Identifiable Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of the total consideration transferred as a part of the Citizens First acquisition as well as the fair value of identifiable assets acquired and liabilities assumed as of the effective date of the transaction.
Consideration |  |
Cash for Options and Fractional Shares |  | $ | 216 |
Cash Consideration |  | 15,294 |
Equity Instruments |  | 50,118 |
Fair Value of Total Consideration Transferred |  | $ | 65,628 |
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: |  |
Cash |  | $ | 21,055 |
Interest-bearing Time Deposits with Banks |  | 2,231 |
Securities |  | 43,839 |
Loans |  | 356,970 |
Stock in FHLB of Indianapolis and Other Restricted Stock, at Cost |  | 2,065 |
Premises, Furniture & Equipment |  | 10,772 |
Other Real Estate |  | — |
Intangible Assets |  | 4,547 |
Company Owned Life Insurance |  | 8,796 |
Accrued Interest Receivable and Other Assets |  | 3,863 |
Deposits - Non-interest Bearing |  | (52,521) |
Deposits - Interest Bearing |  | (318,966) |
FHLB Advances and Other Borrowings |  | (31,068) |
Accrued Interest Payable and Other Liabilities |  | (3,694) |
Total Identifiable Net Assets |  | $ | 47,889 |
Goodwill |  | $ | 17,739 |
Schedule of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the periods ended December 31, 2021, 2020, and 2019, were classified as follows:
|  | 2021 |  | 2020 |  | 2019
Beginning of Year |  | $ | 121,956 |  |  | $ | 121,306 |  |  | $ | 103,681 |
Acquired Goodwill |  | — |  |  | 650 |  |  | 17,625 |
Adjustments |  | (195) |  |  | — |  |  | — |
End of Year |  | $ | 121,761 |  |  | $ | 121,956 |  |  | $ | 121,306 |
Schedule of Acquired Intangible Assets | Acquired Intangible Assets Acquired intangible assets were as follows as of year end:
|  | 2021
|  | Gross Amount |  | Accumulated Amortization
Core Banking |  |  |  |
Core Deposit Intangible |  | $ | 25,675 |  |  | $ | (21,320) |
Branch Acquisition Intangible |  | 257 |  |  | (257) |
Insurance |  |  |  |
Customer List |  | 5,408 |  |  | (5,348) |
Total |  | $ | 31,340 |  |  | $ | (26,925) |
|  | 2020
|  | Gross Amount |  | Accumulated Amortization
Core Banking |  |  |  |
Core Deposit Intangible |  | $ | 25,780 |  |  | $ | (18,619) |
Branch Acquisition Intangible |  | 257 |  |  | (257) |
Insurance |  |  |  |
Customer List |  | 5,408 |  |  | (5,318) |
Total |  | $ | 31,445 |  |  | $ | (24,194) |
Schedule of Estimated Amortization Expense of Intangibles | Estimated amortization expense for each of the next five years is as follows:
2022 |  | $ | 1,947 |
2023 |  | 1,310 |
2024 |  | 736 |
2025 |  | 332 |
2026 |  | 89 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of acquired indefinite-lived intangible assets. Indefinite-lived intangible assets are assets that have no physical form, but have expected future economic benefit. Indefinite-lived assets are assets that are not subject to amortization. Acquired indefinite-lived intangible assets are disclosed by major class (assets that can be grouped together because they are similar, either by their nature or by their use in operations of the entity) and in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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