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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2023
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)
20232022
Goodwill balance, beginning of year$114,231 $113,835 
Brunswick Acquisition12,800 — 
Riverview Acquisition measurement period adjustment— 36 
Insurance acquisition— 360 
Goodwill balance, end of year$127,031 $114,231 
On May 19, 2023, Mid Penn purchased Brunswick Bank and Trust in a business combination. Goodwill totaled $12.8 million. 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)
202320222021
Core deposit intangible balance, beginning of year$4,964 $7,282 $4,311 
Brunswick core deposit intangibles999 — — 
Riverview (adjustment) acquisition— (705)4,096 
Amortization of core deposit intangibles1,314 1,613 1,125 
Core deposit and other intangible balances, end of year$4,649 $4,964 $7,282 
The following table shows the amortization expense for future periods:
(In thousands)
2024$1,267 
20251,035 
2026812 
2027591 
2028370 
2029-thereafter574 
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)20232022
Customer list intangible balance, beginning of year$2,275 $2,127 
Insurance acquisition— 541 
Amortization of customer list intangible445 393 
Customer list intangible, end of year$1,830 $2,275 
The following table shows the amortization expense for future periods:
(In thousands)
2024$399 
2025350 
2026301 
2027252 
2028203 
2029-thereafter325