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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 5. Goodwill and Intangible Assets In accordance with FASB ASC No. 2021-03, “Goodwill and Other (Topic 350),” 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. The Company’s other intangible assets consist of core deposit intangibles, insurance agency customer relationships and insurance agency tradename. They are 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 insurance agency customer relationships are amortized over 14 years and the insurance agency tradename is amortized over five years. The carrying amount of goodwill at September 30, 2024, and December 31, 2023, was $96.1 million. ​ Other intangible assets as of the dates indicated is summarized below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Core Deposit |  | Customer Relationships |  | Tradename | ​ | ​ |
Amortized other intangible assets: | ​ | Intangibles | ​ | Intangibles | ​ | Intangibles | ​ | Total | ​
September 30, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance January 1, 2024, gross | ​ | $ | 17,470 | ​ | $ | 5,670 | ​ | $ | 63 | ​ | $ | 23,203 | ​
Less: accumulated amortization | ​ | ​ | (11,021) | ​ | ​ | (2,940) | ​ | ​ | (63) | ​ | ​ | (14,024) | ​
Balance, September 30, 2024, other intangible assets, net | ​ | $ | 6,449 | ​ | $ | 2,730 | ​ | $ | - | ​ | $ | 9,179 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2023: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance January 1, 2023, gross | ​ | $ | 17,470 | ​ | $ | 5,670 | ​ | $ | 63 | ​ | $ | 23,203 | ​
Less: accumulated amortization | ​ | ​ | (9,758) | ​ | ​ | (2,379) | ​ | ​ | (63) | ​ | ​ | (12,200) | ​
Balance, December 31, 2023, other intangible assets, net | ​ | $ | 7,712 | ​ | $ | 3,291 | ​ | $ | - | ​ | $ | 11,003 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ The aggregate amortization expense for other intangible assets for the three and nine months ended September 30, 2024, was $604 thousand and $1.8 million, respectively, and for the three and nine months ended September 30, 2023, was $647 thousand and $2.0 million, respectively. As of September 30, 2024, the estimated aggregate amortization expense for future periods for intangibles is as follows (in thousands): ​
​ | ​ | ​ | ​
Remainder of 2024 |  | $ | 600
2025 | ​ |  | 2,256
2026 | ​ |  | 2,086
2027 | ​ |  | 1,904
2028 | ​ | ​ | 1,139
Thereafter | ​ |  | 1,194
Total | ​ | $ | 9,179
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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