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Note 1: Nature of Operations and Summary of Significant Accounting Policies: Goodwill and Intangible Assets, Goodwill, Policy (Policies)

12 Months Ended

Dec. 31, 2018

Policies

Goodwill and Intangible Assets, Goodwill, Policy

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,
	2018	2017
	(In Thousands)
Goodwill – Branch acquisitions	$                5,396	$                5,396
Deposit intangibles
Sun Security Bank	—	263
InterBank	36	181
Boulevard Bank	275	397
Valley Bank	1,000	1,400
Fifth Third Bank	2,581	3,213
	3,892	5,454
	$                9,288	$             10,850

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- Definition

Disclosure of accounting policy for goodwill. This accounting policy also may address how an entity assesses and measures impairment of goodwill, how reporting units are determined, how goodwill is allocated to such units, and how the fair values of the reporting units are determined.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18780-107790

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X

- References

No definition available.

+ Details

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