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Note 8 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 8. Goodwill and Other Intangible Assets

Goodwill

The Company has one reporting unit for goodwill impairment testing purposes, Community Banking. The Company performed its annual assessment of goodwill as of October 31,2021, and concluded that the carrying value of goodwill was not impaired. No events have occurred after the analysis to indicate potential impairment.

As of January 1, 2019, the Company goodwill totaled $92.75 million. The December 31, 2019, acquisition of Highlands added $36.82 million in goodwill; resulting in a ending balance of $129.57 million. There was no change in the balance for 2021 or 2020.:

Other Intangible Assets

As of December 31, 2021, the remaining lives of core deposit intangibles ranged from 3 years to 8 years with a weighted average remaining life of 6 years.  The following table presents the components of other intangible assets as of the dates indicated:

		December 31,
		2021				2020				2019
(Amounts in thousands)
Core deposit intangibles		$	12,674			$	12,674			$	8,184
Acquisitions			—				—				4,490
Accumulated amortization			(7,052	)			(5,605	)			(4,155	)
Core deposit intangibles, net			5,622				7,069				8,519
Other identifiable intangibles			—				—				—
Accumulated amortization			—				—				—
Other identifiable intangibles, net			—				—				—
Total other intangible assets, net		$	5,622			$	7,069			$	8,519

Amortization expense for other intangible assets was $1.45 million in 2021, and 2020, and $997 thousand in 2019.

The following schedule presents the estimated amortization expense for intangible assets, by year, as of December 31, 2021:

(Amounts in thousands)
2022		$	1,446
2023			878
2024			856
2025			647
2026			449
2027 and thereafter			1,346
Total estimated amortization expense		$	5,622

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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 http://asc.fasb.org/topic&trid=2144416

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