The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of First Mid Wealth Management Company and First Mid Insurance. The following table presents gross carrying value and accumulated amortization by major intangible asset class as of June 30, 2021 and December 31, 2020 (in thousands):

	June 30, 2021				December 31, 2020
	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Goodwill not subject to amortization (effective 1/1/02)	$	116,533	$	3,760	$	108,752	$	3,760
Intangibles from branch acquisition		3,015		3,015		3,015		3,015
Core deposit intangibles		34,503		22,371		32,355		20,910
Other intangibles		20,561		5,944		16,389		5,222
	$	174,612	$	35,090	$	160,511	$	32,907

During the second quarter of 2021, goodwill of $1.4 million was recorded for the acquisition of certain assets used by BBM & Associates Inc., in connection with its trucking insurance business. All this goodwill was assigned to First Mid Insurance. The following provides a reconciliation of the purchase price paid for BBM & Associates Inc. and the amount of goodwill recorded (in thousands):


Unallocated purchase price	$	3,661
Less purchase accounting adjustments:
Insurance company intangibles		2,249
	$	1,412

Goodwill of $8.9 million was provisionally recorded for the acquisition and merger of LINCO Bancshares, Inc. (“LINCO”) during the first quarter of 2021. All goodwill was assigned to the banking segment of the Company. Goodwill was subsequently adjusted to $6.4 million to reflect adjustments made to finalize the purchase accounting.

The following table provides a reconciliation of the purchase price paid for the acquisition of LINCO and the amount of goodwill recorded (in thousands):

Unallocated purchase price				$	12,248
Less purchase accounting adjustments:
Fair value of securities	$	264
Fair value of loans, net		(2,818	)
Fair value of other real estate owned		915
Fair value of premises and equipment		6,360
Fair value of time deposits		(2,081	)
Fair value of FHLB advances		(975	)
Core deposit intangible		2,025
Other assets		2,373
Other liabilities		(184	)
					5,879
				$	6,369

The Company has mortgage servicing rights acquired in previous acquisitions. The following table summarizes the activity pertaining to mortgage servicing rights included in intangible assets as of June 30, 2021, June 30, 2020 and December 31, 2020 (in thousands):

	June 30, 2021			June 30, 2020			December 31, 2020
Beginning balance	$	516		$	1,444		$	1,444
Fair market value adjustment		318			(259	)		(273	)
Mortgage servicing rights amortized		(355	)		(268	)		(593	)
Interest only strip		(6	)		(17	)		(62	)
Ending balance	$	473		$	900		$	516

Total amortization expense for the three and six months ended June 30, 2021 and 2020 was as follows (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2021		2020		2021		2020
Core deposit intangibles	$	728	$	821	$	1,438	$	1,664
Customer list intangibles		389		327		722		653
Mortgage servicing rights		178		142		355		268
	$	1,295	$	1,290	$	2,515	$	2,585

Aggregate amortization expense for the current year and estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):

Aggregate amortization expense:
For period 01/01/21-6/30/21	$	2,515
Estimated amortization expense:
For period 07/01/21-12/31/21		3,417
For year ended 12/31/22		4,268
For year ended 12/31/23		3,917
For year ended 12/31/24		3,617
For year ended 12/31/25		3,274
For year ended 12/31/26		2,592

In accordance with the provisions of SFAS No. 142, “Goodwill and Other Intangible Assets,” codified within ASC 350, the Company performed testing of goodwill for impairment as of September 30, 2020 and determined that, as of that date, goodwill was not impaired. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets.