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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS |
GOODWILL AND OTHER INTANGIBLE ASSETS | 8. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill ​ At December 31, 2024 and 2023, the carrying amount of the Company’s goodwill was $155.8 million, respectively. ​ 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, 2024, 2023 and 2022. ​ The following table presents the change in Goodwill for the years ended December 31, 2024, 2023 and 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) | ​ | ​ | 2024 |  | ​ | 2023 |  | ​ | 2022
Beginning of year | ​ | $ | 155,797 | ​ | $ | 155,797 | ​ | $ | 155,797
Impairment | ​ |  | - | ​ | ​ | - | ​ | ​ | -
End of year | ​ | $ | 155,797 | ​ | $ | 155,797 | ​ | $ | 155,797
​ Other Intangible Assets ​ The following table presents the carrying amount and accumulated amortization of intangible assets that are amortizable, all of which are core deposit intangibles: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | December 31, 2024 | ​ | December 31, 2023
Gross carrying value | ​ | $ | 10,204 | ​ | $ | 10,204
Accumulated amortization | ​ |  | (6,308) | ​ |  | (5,145)
Net carrying amount | ​ | $ | 3,896 | ​ | $ | 5,059
​ Amortization expense recognized on intangible assets was $1.2 million, $1.4 million and $1.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. ​ Estimated amortization expense for 2025 through 2029 and thereafter is as follows: ​
​ | ​ | ​ | ​
(In thousands) | ​ | ​ | ​
2025 | ​ | $ | 958
2026 | ​ | ​ | 795
2027 | ​ | ​ | 664
2028 | ​ | ​ | 560
2029 | ​ | ​ | 475
Thereafter | ​ | ​ | 444
Total | ​ | $ | 3,896
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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