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Note 7 - Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 – Goodwill and Other Intangible Assets A goodwill impairment test is required under ASC 350, Intangibles – Goodwill and Other, and the FASB issued ASU 2011-08, “Testing Goodwill for Impairment,” allowing an initial qualitative assessment of goodwill commonly known as step zero impairment testing. In general, the step zero test allows an entity to first assess qualitative factors to determine whether it is more likely than not (i.e., more than 50%) that the fair value of a reporting unit is less than its carrying value. If a step zero impairment test results in the conclusion that it is more likely than not that the fair value of the reporting unit exceeds its carrying value, then no further testing is required. Based upon management’s review through December 31, 2024, the Company’s goodwill was not impaired. Management concludes that the ASC 350 goodwill step zero test has been passed, and no further testing is required. Goodwill The change in goodwill during the year is as follows:
|  | 2024 |  |  | 2023 |
|  | (dollars in thousands) |
Balance, January 1 |  | $ | 208,372 |  |  | $ | 208,372 |
Acquired goodwill |  |  | - |  |  |  | - |
Impairment |  |  | - |  |  |  | - |
Balance, December 31 |  | $ | 208,372 |  |  | $ | 208,372 |
Acquired Intangible Assets The table below provides information regarding the carrying amounts and accumulated amortization of total amortized intangible assets as of the dates set forth below.
|  | Gross |  |  |  |  |  |  | Net |
|  | Carrying |  |  | Accumulated |  |  | Carrying |
|  | Amount |  |  | Amortization |  |  | Amount |
|  | (dollars in thousands) |
Core deposit intangibles |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2024 |  | $ | 13,207 |  |  | $ | (8,568 | ) |  | $ | 4,639 |
Core deposit intangibles |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2023 |  | $ | 18,515 |  |  | $ | (12,641 | ) |  | $ | 5,874 |
One core deposit intangible of $5.3 million in gross carrying value from a previous merger was fully amortized as of December 31, 2024 and is no longer reflected in the financial statements. Aggregate amortization expense was approximately $1.2 million, $1.4 million and $1.7 million for 2024, 2023 and 2022, respectively. Estimated amortization expense for each of the next five years (dollars in thousands):
2025 |  | $ | 1,116 |
2026 |  |  | 1,050 |
2027 |  |  | 989 |
2028 |  |  | 930 |
2029 |  |  | 552 |

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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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