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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2022
GOODWILL AND OTHER INTANGIBLE ASSETS |
GOODWILL AND OTHER INTANGIBLE ASSETS | 9. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill ​ At December 31, 2022 and 2021, the carrying amount of the Company’s goodwill was $155.8 million. ​ The Company performs its annual goodwill impairment test in the fourth quarter of every year, or more frequently if events or changes in circumstance indicate the asset might be impaired. It was determined during the annual impairment testing that no impairment was needed for the years ended December 31, 2022, 2021 and 2020 as the fair value of the Company’s single reporting unit was determined to exceed the carrying amount of the reporting unit. ​ The following table presents the change in Goodwill for the years ended December 31, 2022, 2021 and 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) | ​ | ​ | 2022 |  | ​ | 2021 |  | ​ | 2020
Beginning of year | ​ | $ | 155,797 | ​ | $ | 55,638 | ​ | $ | 55,638
Acquired goodwill1 | ​ | ​ | - | ​ | ​ | 100,159 | ​ | ​ | -
Impairment | ​ |  | - | ​ | ​ | - | ​ | ​ | -
End of year | ​ | $ | 155,797 | ​ | $ | 155,797 | ​ | $ | 55,638
(1) | See Note 2. Merger for additional information regarding the acquired goodwill
Other Intangible Assets ​ The following table presents the carrying amount and accumulated amortization of intangible assets that are amortizable. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | December 31, 2022 | ​ | December 31, 2021
​ | ​ | Core Deposit | ​ | ​ | Non-compete | ​ | ​ | ​ | ​ | ​ | Core Deposit | ​ | ​ | Non-compete | ​ | ​ | ​
(In thousands) | ​ | Intangibles |  | ​ | Agreement |  | ​ | Total | ​ | ​ | Intangibles |  | ​ | Agreement |  | ​ | Total
Gross carrying value | $ | 10,204 | ​ | $ | 780 | ​ | $ | 10,984 | ​ | $ | 10,204 | ​ | $ | 780 | ​ | $ | 10,984
Accumulated amortization |  | (3,720) | ​ | ​ | (780) | ​ | ​ | (4,500) | ​ |  | (1,962) | ​ | ​ | (660) | ​ | ​ | (2,622)
Net carrying amount | $ | 6,484 | ​ | $ | - | ​ | $ | 6,484 | ​ | $ | 8,242 | ​ | $ | 120 | ​ | $ | 8,362
​ Amortization expense recognized on intangible assets was $1.9 million and $2.6 million for the years ended December 31, 2022 and 2021, respectively. ​ Estimated amortization expense for 2023 through 2027 and thereafter is as follows: ​
​ | ​ | ​ | ​
(In thousands) | ​ | ​ | Total
2023 | ​ | ​ | 1,425
2024 | ​ | ​ | 1,163
2025 | ​ | ​ | 958
2026 | ​ | ​ | 795
2027 | ​ | ​ | 664
Thereafter | ​ | ​ | 1,479
Total | ​ | $ | 6,484
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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