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GOODWILL AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS The following table presents changes in goodwill at March 31, 2020 and December 31, 2019:
| March 31, 2020 |  | December 31, 2019
Balance, beginning of year | $ | 19,925 |  |  | $ | 12,592 |
Acquired goodwill | — |  |  | 7,029 |
Adjustments to acquired goodwill | 217 |  |  | 304 |
Balance, end of period | $ | 20,142 |  |  | $ | 19,925 |
Goodwill is not amortized but is reviewed for potential impairment on at least an annual basis, with testing between annual tests if an event occurs or circumstances change that could potentially reduce the fair value of a reporting unit. Due to the severe economic impact of COVID-19, the Company reviewed its goodwill for impairment. It was concluded that no impairment existed at March 31, 2020. Management will continue to evaluate current economic conditions to determine if a triggering event would impact the current valuations for these assets. The following table presents changes in other intangible assets for the three months ended March 31, 2020 and 2019:
|  |  |  |  | Three Months Ended |  |
|  |  |  |  | March 31, 2020 |  | March 31, 2019
Beginning of period |  |  |  |  | $ | 7,180 |  |  | $ | 3,910 |
Amortization Expense |  |  |  |  | (463) |  |  | (208) |
Balance, end of period |  |  |  |  | $ | 6,717 |  |  | $ | 3,702 |
The following table presents the components of other identifiable intangible assets at March 31, 2020 and December 31, 2019:
| March 31, 2020 |  |  |  | December 31, 2019 |  |
| Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized intangible assets: |  |  |  |  |  |  |
Core deposit intangibles | $ | 8,390 |  |  | $ | 1,868 |  |  | $ | 8,390 |  |  | $ | 1,493 |
Other customer relationship intangibles | 524 |  |  | 353 |  |  | 524 |  |  | 338 |
Non-compete agreement | 290 |  |  | 266 |  |  | 290 |  |  | 193 |
Total | $ | 9,204 |  |  | $ | 2,487 |  |  | $ | 9,204 |  |  | $ | 2,024 |
The following table presents future estimated aggregate amortization expense for intangible assets remaining at March 31, 2020:
Remainder of 2020 | $ | 1,128 |
2021 | 1,313 |
2022 | 1,137 |
2023 | 960 |
2024 | 784 |
Thereafter | 1,395 |
| $ | 6,717 |

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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 http://asc.fasb.org/topic&trid=2144416 + Details
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