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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Schedule of Intangible Assets and Goodwill | The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of business lines acquired. The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of December 31, 2022 and 2021 (in thousands):
|  | 2022 |  |  | 2021 |
|  | Gross Carrying |  |  | Accumulated |  |  | Gross Carrying |  |  | Accumulated |
|  | Value |  |  | Amortization |  |  | Value |  |  | Amortization |
Goodwill |  | $ | 144,172 |  |  | $ | 3,760 |  |  | $ | 115,613 |  |  | $ | 3,760 |
Intangibles from branch acquisition |  |  | 3,015 |  |  |  | 3,015 |  |  |  | 3,015 |  |  |  | 3,015 |
Core deposit intangibles |  |  | 45,355 |  |  |  | 28,432 |  |  |  | 39,435 |  |  |  | 24,085 |
Customer list intangibles |  |  | 20,782 |  |  |  | 8,551 |  |  |  | 20,561 |  |  |  | 6,808 |
|  | $ | 213,324 |  |  | $ | 43,758 |  |  | $ | 178,624 |  |  | $ | 37,668 |
Intangible Assets Mortgage Servicing Rights | The unpaid principal balance of mortgage loans serviced for others was $73.6 million and $90.2 million at December 31, 2022 and 2021, respectively. The following table summarizes the activity pertaining to the mortgage servicing rights included in intangible assets as of December 31, 2022 and 2021 (in thousands):
|  | December 31, 2022 |  |  | December 31, 2021 |
Beginning balance |  | $ | 420 |  |  | $ | 516 |
Valuation recovery |  |  | 108 |  |  |  | 544 |
Mortgage servicing rights amortized |  |  | (200 | ) |  |  | (629 | )
I/O strip |  |  | 3 |  |  |  | (11 | )
Ending balance |  | $ | 331 |  |  | $ | 420 |
Schedule of Intangible Assets Amortization Expense | Total amortization expense for the years ended December 31, 2022, 2021, and 2020 was as follows (in thousands):
|  | 2022 |  |  | 2021 |  |  | 2020 |
Core deposit intangibles |  | $ | 4,347 |  |  | $ | 3,176 |  |  | $ | 3,164 |
Customer list intangibles |  |  | 1,743 |  |  |  | 1,586 |  |  |  | 1,305 |
Mortgage servicing rights |  |  | 200 |  |  |  | 629 |  |  |  | 593 |
|  | $ | 6,290 |  |  | $ | 5,391 |  |  | $ | 5,062 |
Schedule of Expected Amortization Expense | Estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):
For year ended 12/31/23 |  | $ | 5,878 |
For year ended 12/31/24 |  |  | 5,371 |
For year ended 12/31/25 |  |  | 4,736 |
For year ended 12/31/26 |  |  | 3,835 |
For year ended 12/31/27 |  |  | 3,254 |
Delta Bancshares Company |
Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded | The following table provides a reconciliation of the purchase price paid for the acquisition of Delta and the amount of goodwill recorded (in thousands):
Unallocated purchase price |  |  |  |  | $ | 29,791 |
Less purchase accounting adjustments: |  |  |  |  |  |
Fair value of securities |  |  | (2,836 | ) |  |  |
Fair value of loans, net |  |  | (3,399 | ) |  |  |
Fair value of premises and equipment |  |  | 3,508 |  |  |  |
Fair value of time deposits |  |  | (1,759 | ) |  |  |
Fair value of FHLB advances |  |  | (75 | ) |  |  |
Core deposit intangible |  |  | 5,920 |  |  |  |
Other assets |  |  | (570 | ) |  |  |
Other liabilities |  |  | 444 |  |  |  |
|  |  |  |  |  | 1,233 |
Resulting goodwill from acquisition |  |  |  |  | $ | 28,558 |

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