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Note 8 - Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
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, 2023, and concluded that the carrying value of goodwill was not impaired. No events have occurred after the analysis to indicate potential impairment. As of December 31, 2023, the Company's goodwill totaled $143.95 million. The Surrey acquisition resulted in the Company recognizing $14.38 million in goodwill in the transaction. The balance was $129.57 million for both 2022 and 2021.
(Amounts in thousands) |  |  |  |
Balance January 1, 2021 |  | $ | 129,565 |
Acquisitions |  |  | — |
Balance December 31, 2021 |  | $ | 129,565 |
Balance January 1, 2022 |  | $ | 129,565 |
Acquisitions |  |  | — |
Balance December 31, 2022 |  | $ | 129,565 |
Balance January 1, 2023 |  | $ | 129,565 |
Acquisitions |  |  | 14,381 |
Balance December 31, 2023 |  | $ | 143,946 |
Other Intangible Assets As of December 31, 2023, the remaining lives of core deposit intangibles ranged from 1.50 years to 9 years with a weighted average remaining life of 8.42 years. The Surrey acquisition resulted in the Company recognizing $12.70 million in core deposit intangibles. The following table presents the components of other intangible assets as of the dates indicated:
|  | December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
(Amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Core deposit intangibles |  | $ | 12,674 |  |  | $ | 12,674 |  |  | $ | 12,674 |
Acquisitions |  |  | 12,700 |  |  |  | — |  |  |  | — |
Accumulated amortization |  |  | (10,229 | ) |  |  | (8,498 | ) |  |  | (7,052 | )
Total other intangible assets, net |  | $ | 15,145 |  |  | $ | 4,176 |  |  | $ | 5,622 |
Amortization expense for other intangible assets was $1.73 million in 2023, and $1.45 million in both 2022, and 2021. The following schedule presents the estimated amortization expense for intangible assets, by year, as of December 31, 2023:
(Amounts in thousands) |  |  |  |
2024 |  | $ | 2,126 |
2025 |  |  | 1,917 |
2026 |  |  | 1,719 |
2027 |  |  | 1,719 |
2028 |  |  | 1,719 |
2029 and thereafter |  |  | 5,945 |
Total estimated amortization expense |  | $ | 15,145 |

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