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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The following table summarizes the changes in goodwill:
| For the Years Ended December 31,
(In thousands) | 2022 |  | 2021
Goodwill balance, beginning of year | $ | 113,835 |  |  | $ | 62,840 |
Riverview Acquisition | — |  |  | 50,995 |
Riverview Acquisition measurement period adjustment | 36 |  |  | — |
Insurance acquisition | 360 |  |  | — |
Goodwill balance, end of year | $ | 114,231 |  |  | $ | 113,835 |
On December 31, 2022, Mid Penn purchased the assets of an independent insurance agency that serviced the Central Pennsylvania area in a business combination. Goodwill totaling $360 thousand and a customer list with a fair market value of $541 thousand were booked as a result of this business combination. The following table summarizes the changes in core deposit intangible.
| For the Years Ended December 31,
(In thousands) | 2022 |  | 2021 |  | 2020
Core deposit intangible balance, beginning of year | $ | 7,282 |  |  | $ | 4,311 |  |  | $ | 5,526 |
Riverview (adjustment) acquisition | (705) |  |  | 4,096 |  |  | — |
Amortization of core deposit intangibles | 1,613 |  |  | 1,125 |  |  | 1,215 |
Core deposit and other intangible balances, end of year | $ | 4,964 |  |  | $ | 7,282 |  |  | $ | 4,311 |
The following table shows the amortization expense for future periods:
(In thousands) |
2023 | $ | 1,208 |
2024 | 1,096 |
2025 | 882 |
2026 | 677 |
2027 | 474 |
2028-thereafter | 627 |
Customer List Intangible As a result of the Riverview Acquisition, Mid Penn recorded a customer list intangible asset included in total intangible assets related to the wealth management customers assumed in the acquisition. This intangible is amortized as an expense over ten years using the sum of the years’ amortization method. The following table summarizes the changes in the customer list intangible during the years ended December 31:
(In thousands) | 2022 |  | 2021 |  |
Customer list intangible balance, beginning of year | $ | 2,127 |  |  | $ | — |  |  |
Riverview acquisition | — |  |  | 2,160 |  |  |
Insurance acquisition | 541 |  |  | — |  |  |
Amortization of customer list intangible | 393 |  |  | 33 |  |  |
Customer list intangible, end of year | $ | 2,275 |  |  | $ | 2,127 |  |  |
The following table shows the amortization expense for future periods:
(In thousands) |
2023 | $ | 445 |
2024 | 399 |
2025 | 350 |
2026 | 301 |
2027 | 252 |
2028-thereafter | 528 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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