GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents changes in goodwill at June 30, 2020 and December 31, 2019:


	June 30, 2020		December 31, 2019
Balance, beginning of year	$	19,925	$	12,592
Acquired goodwill	—		7,029
Adjustments to acquired goodwill ⁽¹⁾	(1,201)		304

Balance, end of period	$	18,724	$	19,925

⁽¹⁾ The Company finalized its purchase accounting adjustments associated with Hamilton as of May 1, 2020.

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 June 30, 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 and six months ended June 30, 2020 and 2019:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Beginning of period	$	6,717	$	3,702	$	7,180	$	3,910
Acquired CDI	—		4,550		—		4,550

Non-compete agreement	—		290		—		290
Amortization Expense	(404)		(402)		(867)		(610)
Impairment	(153)		—		(153)		—
Balance, end of period	$	6,160	$	8,140	$	6,160	$	8,140

During the three and six months ended June 30, 2020, the Company recorded an impairment charge of $153 thousand for the full remaining balance attributable to a customer list intangible asset due to the pending dissolution of Wheatland. No impairment charges were recorded in the three and six months ended June 30, 2019.

The following table presents the components of other identifiable intangible assets at June 30, 2020 and December 31, 2019:


	June 30, 2020						December 31, 2019
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized intangible assets:
Core deposit intangibles	$	8,390	$	2,235	$	8,390	$	1,493
Other customer relationship intangibles	174		169		524		338
Non-compete agreement	—		—		290		193
Total	$	8,564	$	2,404	$	9,204	$	2,024

The following table presents future estimated aggregate amortization expense for intangible assets remaining at June 30, 2020:



Remainder of 2020	$	702
2021	1,275
2022	1,105
2023	935
2024	766
Thereafter	1,377
	$	6,160