XML 35 R25.htm IDEA: XBRL DOCUMENT v3.25.2
Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2025
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 three and six months ended June 30, 2025, and June 30, 2024, (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Beginning of period$32,842 $— $32,783 $— 
Acquired goodwill— 32,783 — 32,783 
Goodwill adjustment1,307 — 1,366 — 
Impairment— — — — 
End of period$34,149 $32,783 $34,149 $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 16 - 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 amount and accumulated amortization of other intangible assets for the three and six months ended June 30, 2025, and June 30, 2024, was as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Beginning of period$53,002 $— $57,300 $— 
Core deposit intangible acquired— 68,760 — 68,760 
Amortization(3,888)(2,865)(8,186)(2,865)
Impairment— — — — 
Total core deposit intangible$49,114 $65,895 $49,114 $65,895 
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 $8.2 million for the six months ended June 30, 2025.
Estimated amortization expense for future years is as follows (in thousands):
Estimated Amortization
Remaining six months ending, December 31, 2025$7,367 
202613,097 
202710,641 
20288,186 
20295,730 
Thereafter4,093 
Total$49,114