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Note 1: Nature of Operations and Summary of Significant Accounting Policies: Goodwill and Intangible Assets (Policies)
 12 Months Ended
Dec. 31, 2015
Policies  
Goodwill and Intangible Assets

Goodwill and Intangible Assets

 

Goodwill is evaluated annually for impairment or more frequently if impairment indicators are present.  A qualitative assessment is performed to determine whether the existence of events or circumstances leads to a determination that it is more likely than not the fair value is less than the carrying amount, including goodwill.  If, based on the evaluation, it is determined to be more likely than not that the fair value is less than the carrying value, then goodwill is tested further for impairment.  If the implied fair value of goodwill is lower than its carrying amount, a goodwill impairment is indicated and goodwill is written down to its implied fair value.  Subsequent increases in goodwill fair value are not recognized in the financial statements.

 

Intangible assets are being amortized on the straight-line basis generally over a period of seven years.  Such assets are periodically evaluated as to the recoverability of their carrying value.

 

 

A summary of goodwill and intangible assets is as follows:

 

 

 

December 31,

 

2015

2014

(In Thousands)

 

 

Goodwill – Branch acquisitions

$1,169

$1,169

Deposit intangibles

 

 

TeamBank

105

526

Vantus Bank

207

519

Sun Security Bank

964

1,314

InterBank

472

617

Boulevard Bank

641

763

Valley Bank

2,200

2,600

 

4,589

6,339

 

 

 

 

$5,758

$7,508