Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The change in the carrying amount of goodwill for the years ended December 31, 2019 and 2018 is as follows:



	2019		2018
Balance, beginning of year	$	38,730	$	38,730
Acquired during the year	0		0
Balance, end of year	$	38,730	$	38,730

Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value, which is determined through a two-step impairment test. Step 1 includes the determination of the carrying value of our single reporting unit, including the existing goodwill and intangible assets, and estimating the fair value of the reporting unit. We determined the fair value of our reporting unit exceeded its carrying amount. If the carrying amount of the reporting unit exceeds its fair value, we are required to perform a second step to the impairment test. Our annual impairment analysis at December 31, 2019 and 2018 indicated that the Step 2 analysis was not necessary.

Intangible Assets

In connection with its acquisition of FC Banc Corp. in 2013, the Corporation recorded a core deposit intangible asset of $4,834. During the years ended December 31, 2019, 2018, and 2017, the Corporation recorded amortization expense of $316, $489 and $662, respectively. The net carrying values at December 31, 2019 and December 31, 2018 were $94 and $410, respectively. No other intangible assets were required to be recorded in connection with the acquisition of FC Banc Corp.

In connection with its acquisition of Lake National Bank in 2016, the Corporation recorded a core deposit intangible asset of $1,583. During the year ended December 31, 2019, 2018, and 2017, the Corporation recorded amortization expense of $251, $409, and $567, respectively. The net carrying values at December 31, 2019 and 2018 were $66 and $317, respectively. No other intangible assets were required to be recorded in connection with the acquisition of Lake National Bank. The estimated remaining amortization expense of core deposit intangible assets is $160 and will be amortized in 2020.