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GOODWILL AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS At March 31, 2023 and 2022, goodwill was $18.7 million. No impairment charges were recorded in the three months ended March 31, 2023 and March 31, 2022.
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. The Company conducted its last annual goodwill impairment test as of November 30, 2022 using generally accepted valuation methods. As a result of that impairment test, no goodwill impairment was identified. During the three months ended March 31, 2023, the market was impacted by the economic uncertainty resulting from recent banking industry events, which caused the Company's stock price and market capitalization to decline. The Company performed a qualitative assessment which indicated that it was more likely than not that the fair value exceeded its carrying value, resulting in no impairment charge for the three months ended March 31, 2023. Management will continue to evaluate the economic conditions for any potential applicable changes. The following table presents changes in and components of other intangible assets for the three months ended March 31, 2023 and 2022. No impairment charges were recorded on other intangible assets during the three months ended March 31, 2023 and March 31, 2022.
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Beginning of period |  |  |  |  | $ | 3,078 |  |  | $ | 4,183 |
Amortization expense |  |  |  |  | (250) |  |  | (292) |
Balance, end of period |  |  |  |  | $ | 2,828 |  |  | $ | 3,891 |
The following table presents the components of other identifiable intangible assets at March 31, 2023 and December 31, 2022:
| March 31, 2023 |  | December 31, 2022
| Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized intangible assets: |  |  |  |  |  |  |
Core deposit intangibles | $ | 8,390 |  |  | $ | 5,562 |  |  | $ | 8,390 |  |  | $ | 5,312 |
Other customer relationship intangibles | — |  |  | — |  |  | 25 |  |  | 25 |
Total | $ | 8,390 |  |  | $ | 5,562 |  |  | $ | 8,415 |  |  | $ | 5,337 |
The following table presents future estimated aggregate amortization expense for other identifiable intangible assets at March 31, 2023:
2023 | $ | 685 |
2024 | 766 |
2025 | 596 |
2026 | 427 |
2027 | 258 |
Thereafter | 96 |
| $ | 2,828 |

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