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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill The following table details changes in the recorded amount of goodwill:
(Dollars in thousands) | September 30, 2023 | December 31, 2022
Goodwill, beginning of year | $ | 292,397 |  | $ | 264,193 |
Goodwill recorded from acquisitions | 62,709 |  | 28,204 |
Goodwill, end of period | $ | 355,106 |  | $ | 292,397 |
As of the close of business on April 30, 2023, Peoples completed its merger with Limestone Bancorp, Inc. ("Limestone") pursuant to an Agreement and Plan of Merger dated October 24, 2022, at which point Limestone merged with and into Peoples, and immediately thereafter, Limestone Bank, Inc., the subsidiary bank of Limestone, merged with and into Peoples Bank (collectively, the “Limestone Merger”). Peoples has recorded preliminary goodwill from the Limestone Merger totaling $62.1 million as of September 30, 2023. On January 3, 2023, Peoples acquired a trust and investment business, for which Peoples has recorded $0.6 million in goodwill as of September 30, 2023. On March 7, 2022, Peoples Bank purchased 100% of the equity of Vantage pursuant to an Equity Purchase Agreement, dated February 16, 2022, at which point Vantage became a wholly-owned subsidiary of Peoples Bank. During 2022, Peoples recorded $27.2 million of goodwill related to this acquisition, which was offset partially by an adjustment of $1.3 million to the goodwill balance related to the merger (the "Premier Merger") of Peoples with Premier Financial Bancorp, Inc. (“Premier”) on September 17, 2021. Other Intangible Assets Other intangible assets were comprised of the following at September 30, 2023, and at December 31, 2022:
(Dollars in thousands) | Core Deposits |  | Customer Relationships |  | Indefinite-Lived Trade Names |  | Total
September 30, 2023 |  |  |  |  |  |  |
Gross intangibles | $ | 26,464 |  |  | $ | 39,241 |  |  | $ | 2,491 |  |  | $ | 68,196 |
Intangibles recorded from acquisitions | 27,722 |  |  | — |  |  | — |  |  | 27,722 |
Accumulated amortization | (23,952) |  |  | (20,076) |  |  | — |  |  | (44,028) |
Total acquisition-related intangibles | $ | 30,234 |  |  | $ | 19,165 |  |  | $ | 2,491 |  |  | $ | 51,890 |
Servicing rights |  |  |  |  |  |  | 1,498 |
Total other intangibles |  |  |  |  |  |  | $ | 53,388 |
December 31, 2022 |  |  |  |  |  |  |
Gross intangibles | $ | 26,464 |  |  | $ | 25,173 |  |  | $ | 1,274 |  |  | $ | 52,911 |
Intangibles recorded from acquisitions | — |  |  | 14,067 |  |  | 1,217 |  |  | 15,284 |
Accumulated amortization | (20,667) |  |  | (15,412) |  |  | — |  |  | (36,079) |
Total acquisition-related intangibles | $ | 5,797 |  |  | $ | 23,828 |  |  | $ | 2,491 |  |  | $ | 32,116 |
Servicing rights |  |  |  |  |  |  | 1,816 |
Total other intangibles |  |  |  |  |  |  | $ | 33,932 |
As of September 30, 2023, Peoples has recorded $27.7 million of core deposit intangibles related to the Limestone Merger. Refer to "Note 13 Acquisitions" for additional information. Peoples recorded other intangible assets in 2022 related to the Vantage acquisition consisting of $10.8 million of customer relationship intangible assets, $1.2 million of non-compete intangible assets, and $1.2 million of indefinite-lived trade name intangible assets. Peoples also recorded $2.0 million of customer relationship intangible assets and $0.1 million of non-compete intangible assets related to the acquisition of Elite Agency, Inc. ("Elite") in 2022. Refer to "Note 13 Acquisitions" for additional information. The following table details estimated aggregate future amortization of other intangible assets at September 30, 2023:
(Dollars in thousands) |  | Core Deposits |  | Customer Relationships |  | Total
Remaining three months of 2023 |  | $ | 1,692 |  |  | $ | 1,554 |  |  | $ | 3,246 |
2024 |  | 5,881 |  |  | 5,343 |  |  | 11,224 |
2025 |  | 4,614 |  |  | 4,255 |  |  | 8,869 |
2026 |  | 3,738 |  |  | 3,114 |  |  | 6,852 |
2027 |  | 3,046 |  |  | 2,289 |  |  | 5,335 |
Thereafter |  | 11,263 |  |  | 2,610 |  |  | 13,873 |
Total |  | $ | 30,234 |  |  | $ | 19,165 |  |  | $ | 49,399 |
The weighted average amortization period of other intangible assets is 9.2 years.

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