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Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

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						Additions						Accumulated Amortization						FHA MSR Sales						Net Intangible Assets
December 31, 2023:
Goodwill						$	104,168					$	—					$	—					$	—					$	104,168
Excess servicing (1)						65						—						(28)						—						37
Non-compete agreements						—						1,234						(514)						—						720
Total						$	104,233					$	1,234					$	(542)					$	—					$	104,925
December 31, 2022:
Goodwill						$	104,168					$	—					$	—					$	—					$	104,168
Excess servicing (1)						87						67						(89)						—						65
Non-compete agreements						—						—						—						—						—
Total						$	104,255					$	67					$	(89)					$	—					$	104,233

(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
2024						$	725
2025						5
2026						5
2027						5
2028						5
Thereafter						12
Total annual amortization						$	757

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- References

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- Definition

Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-2

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