GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

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