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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The following table presents the change in goodwill for the the years ended December 31, 2024, December 31, 2023, and December 31, 2022, (in thousands):
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Beginning of period |  | $ | — |  |  | $ | — |  |  | $ | — |
Acquired goodwill |  | 32,783 |  |  | — |  |  | — |
Impairment |  | — |  |  | — |  |  | — |
End of period |  | $ | 32,783 |  |  | $ | — |  |  | $ | — |
During the year ended, December 31, 2024, the Company recorded $32.8 million of goodwill associated with the acquisition of Summit. See Note 25 - Business Combination to the consolidated financial statements for additional detail regarding this transaction. The Company performs the annual goodwill impairment test on September 30 every year. Other intangible assets consist of the core deposit intangible which is being amortized on an accelerated basis over its estimated useful life of 7 years. During the year ended, December 31, 2024, the Company recorded $68.8 million of core deposit intangibles associated with the acquisition of Summit. The gross carrying amounts and accumulated amortization of other intangible assets for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, were as follows (in thousands):
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Beginning of period |  | $ | — |  |  | $ | — |  |  | $ | — |
Acquired core deposit intangible |  | 68,760 |  |  | — |  |  | — |
Amortization |  | (11,460) |  |  | — |  |  | — |
Impairment |  | — |  |  | — |  |  | — |
Total core deposit intangible |  | $ | 57,300 |  |  | $ | — |  |  | $ | — |
The Company reviews other intangible assets for possible impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. Total amortization expense associated with intangible assets was $11.5 million for the year ended December 31, 2024. Estimated amortization expense for future years is as follows (in thousands):
|  | Estimated Amortization
2025 |  | $ | 15,553 |
2026 |  | 13,097 |
2027 |  | 10,641 |
2028 |  | 8,186 |
2029 |  | 5,730 |
Thereafter |  | 4,093 |
Total |  | $ | 57,300 |

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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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