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GOODWILL AND INTANGIBLE ASSETS:
 12 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
9.GOODWILL AND INTANGIBLE ASSETS:

 

The Corporation completed its annual impairment testing of goodwill during the second quarter of 2012 and 2011. Management does not believe any amount of goodwill is impaired.

Intangible assets subject to amortization at December 31, 2012 and 2011 are as follows:

  2012  2011 
  Gross  Accumulated  Gross  Accumulated 
(Dollar amounts in thousands) Amount  Amortization  Amount  Amortization 
             
Customer list intangible $4,169  $3,512  $4,055  $3,409 
Core deposit intangible  8,600   5,364   8,600   4,104 
                 
  $12,769  $8,876  $12,655  $7,513 

 

In April 2012 Forrest Sherer, Inc. paid $142 thousand to acquire an insurance agency. The only identifiable asset purchased was a customer list intangible of $114.

In late December 2011 First Financial Bank paid $47.0 million to acquire Freestar Bank. The intangible assets purchased were the core deposit intangible of $2.1 million and goodwill of $30.5million.

 

Aggregate amortization expense was $1.36 million, $1.06 million and $1.38 million for 2012, 2011 and 2010, respectively.

 

Estimated amortization expense for the next five years is as follows:

 

  In thousands 
2013 $1,110 
2014  810 
2015  596 
2016  455 
2017  326