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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
In accordance with FASB ASC 350, Goodwill and Other, regarding testing goodwill for impairment provides an entity the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The Company performs its annual goodwill impairment test as of December 31 of each year and at December 31, 2019, the results of the qualitative assessment provided no indication of potential impairment. Goodwill will continue to be monitored for triggering events that may indicate impairment prior to the next scheduled annual impairment test. As of March 31, 2020 the Company was closely monitoring the effects of COVID-19 on the economy and considered this a triggering event and performed an interim goodwill impairment analysis. The results was no impairment charge for the period. Management will continue to evaluate the economic conditions at future reporting periods for applicable changes.

The Company's other intangible assets consist of core deposit intangibles, and is initially recognized based on a valuation performed as of the consummation date. The core deposit intangible is amortized over the average remaining life of the acquired customer deposits.

The carrying amount of goodwill and other intangible assets as of the dates indicated is summarized below (in thousands):
March 31, 2020December 31, 2019
Goodwill:
  Balance, beginning of period$65,614  $66,087  
  Adjustment to values initially recorded for Acquisition of Foothills Bancorp, Inc.—  (473) 
  Acquisition of PFG8,302  —  
  Balance, end of the period$73,916  $65,614  

March 31, 2020December 31, 2019
Core deposit intangible:
  Balance, beginning of period$14,549  $14,549  
  Acquisition of PFG1,370  —  
    Balance, gross core deposit intangible15,919  14,549  
  Less: accumulated amortization(3,332) (2,970) 
    Net core deposit intangible, net$12,587  $11,579  

The aggregate amortization of core deposit intangibles expense for March 31, 2020, and 2019, was $362 thousand and $344 thousand, respectively.

The estimated aggregate amortization expense for future periods for core deposit intangibles is as follows (in thousands):

Remainder of 2020$1,207  
20211,570  
20221,526  
20231,485  
20241,456  
Thereafter5,343  
Total$12,587