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Goodwill and Intangible Assets
 12 Months Ended
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)
20222021
Goodwill balance, beginning of year$113,835 $62,840 
Riverview Acquisition— 50,995 
Riverview Acquisition measurement period adjustment36 — 
Insurance acquisition360 — 
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)
202220212020
Core deposit intangible balance, beginning of year$7,282 $4,311 $5,526 
Riverview (adjustment) acquisition(705)4,096 — 
Amortization of core deposit intangibles1,613 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 
20241,096 
2025882 
2026677 
2027474 
2028-thereafter627 
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)20222021
Customer list intangible balance, beginning of year$2,127 $— 
Riverview acquisition— 2,160 
Insurance acquisition541 — 
Amortization of customer list intangible393 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 
2024399 
2025350 
2026301 
2027252 
2028-thereafter528