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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of in Changes in Goodwill | At September 30, 2024 and December 31, 2023, goodwill was $70.7 million and $18.7 million, respectively. No impairment charges were recorded in the three and nine months ended September 30, 2024 and 2023.
| September 30, 2024 |  | December 31, 2023
Balance, beginning of year | $ | 18,724 |  |  | $ | 18,724 |
Acquired goodwill | 51,931 |  |  | — |
Balance, end of period | $ | 70,655 |  |  | $ | 18,724 |
Schedule of Changes in Other Intangible Assets | The following table presents changes in and components of other intangible assets for the three and nine months ended September 30, 2024 and 2023. The Company acquired core deposit intangibles of $35.9 million and customer relationship intangible assets associated with wealth and brokerage businesses totaling $10.4 million from the Merger. The core deposit intangible and customer relationship intangible assets are amortized based on the sum-of-the-years digits method over the expected life of 10 years. The Company also acquired an investment advisory business and related accounts with assets under management of $85.0 million on July 1, 2024. In connection with this acquisition, the Company recorded an intangible asset totaling $374 thousand associated with the customer list, which will be amortized based on the sum-of-the-years digits method over the expected life of seven years. No impairment charges were recorded on other intangible assets during the three and nine months ended September 30, 2024 and September 30, 2023.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Beginning of period | $ | 1,974 |  |  | $ | 2,589 |  |  | $ | 2,414 |  |  | $ | 3,078 |
Acquired core deposit intangible | 35,860 |  |  | — |  |  | 35,860 |  |  | — |
Acquired customer list | 10,774 |  |  | 289 |  |  | 10,774 |  |  | 289 |
Amortization expense | (2,464) |  |  | (228) |  |  | (2,904) |  |  | (717) |
Balance, end of period | $ | 46,144 |  |  | $ | 2,650 |  |  | $ | 46,144 |  |  | $ | 2,650 |
Schedule of Components of Other Intangible Assets | The following table presents the components of other identifiable intangible assets at September 30, 2024 and December 31, 2023:
| September 30, 2024 |  | December 31, 2023
| Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized intangible assets: |  |  |  |  |  |  |
Core deposit intangible | $ | 44,250 |  |  | $ | 8,601 |  |  | $ | 8,390 |  |  | $ | 6,247 |
Customer relationship intangibles | 11,063 |  |  | 568 |  |  | 289 |  |  | 18 |
Total | $ | 55,313 |  |  | $ | 9,169 |  |  | $ | 8,679 |  |  | $ | 6,265 |
Schedule of Estimated Aggregated Amortization Expense | The following table presents future estimated aggregate amortization expense for other identifiable intangible assets at September 30, 2024:
2024 | $ | 2,407 |
2025 | 8,970 |
2026 | 7,877 |
2027 | 6,784 |
2028 | 5,693 |
Thereafter | 14,413 |
| $ | 46,144 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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