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GOODWILL AND OTHER INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
At March 31, 2024 and December 31, 2023, goodwill was $18.7 million. No impairment charges were recorded in the three months ended March 31, 2024 and 2023.
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, 2023 using generally accepted valuation methods. As a result of that impairment test, no goodwill impairment was identified. No changes occurred that would impact the results of that analysis through March 31, 2024.
The following table presents changes in and components of other intangible assets for the three months ended March 31, 2024 and 2023. No impairment charges were recorded on other intangible assets during the three months ended March 31, 2024 and March 31, 2023.
Three Months Ended March 31,
20242023
Beginning of period$2,414 $3,078 
Amortization expense(225)(250)
Balance, end of period$2,189 $2,828 
The following table presents the components of other identifiable intangible assets at March 31, 2024 and December 31, 2023:
March 31, 2024December 31, 2023
Gross AmountAccumulated
Amortization
Gross AmountAccumulated
Amortization
Amortized intangible assets:
Core deposit intangibles$8,390 $6,454 $8,390 $6,247 
Other customer relationship intangibles289 36 289 18 
Total$8,679 $6,490 $8,679 $6,265 
The following table presents future estimated aggregate amortization expense for other identifiable intangible assets at March 31, 2024:
2024$611 
2025656 
2026476 
2027297 
2028120 
Thereafter29 
$2,189