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Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets
Intangible assets are included in the Consolidated Balance Sheets as a separate line item, net of accumulated amortization and consist of the following items:
(dollars in thousands)Gross
Intangible
Assets
AdditionsAccumulated
Amortization
FHA
MSR Sales
Net
Intangible
Assets
December 31, 2021          
Goodwill$104,168 $— $— $— $104,168 
Core deposit7,070 — (7,070)— — 
Excess servicing (1)
946 909 (230)1,625 
Non-compete agreements345 — (345)— — 
$112,529 $909 $(7,645)$— $105,793 
December 31, 2020
Goodwill$104,168 $— $— $— $104,168 
Core deposit7,070 — (7,070)— — 
Excess servicing (1)
2,478 667 (2,199)— 946 
Non-compete agreements345 — (345)— — 
$114,061 $667 $(9,614)$— $105,114 
(1) The Company recognizes a servicing asset for the computed value of servicing fees on the sale of multifamily FHA loans and the sale of the guaranteed portion of SBA loans. Assumptions related to loan terms and amortization are made to arrive at the initial recorded values, which are included in other assets.
Schedule of future estimated amortization expense The future estimated annual amortization expense is presented below:
Years Ending December 31:
(dollars in thousands)Amount
202266 
202366 
202466 
202566 
202666 
Thereafter1,295 
Total annual amortization$1,625