XML 27 R16.htm IDEA: XBRL DOCUMENT v3.21.2
Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

(8.)

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The carrying amount of goodwill totaled $66.7 million and $66.1 million as of both June 30, 2021 and December 31, 2020. The Company performs a goodwill impairment test on an annual basis as of October 1st or more frequently if events and circumstances warrant.

 

 

 

Banking

 

 

All Other (1)

 

 

Total

 

Balance, December 31, 2020

 

$

48,536

 

 

$

17,526

 

 

$

66,062

 

Acquisition

 

 

 

 

 

611

 

 

 

611

 

Balance, June 30, 2021

 

$

48,536

 

 

$

18,137

 

 

$

66,673

 

 

(1) All Other includes the SDN, Courier Capital and HNP Capital reporting units

 

Goodwill and other intangible assets added during the period relates to the acquisition of assets of Landmark Group, which was completed on February 1, 2021. See Note 2 – Business Combinations for additional information.

 

Other Intangible Assets

The Company has other intangible assets that are amortized, consisting of core deposit intangibles and other intangibles (primarily related to customer relationships). Gross carrying amount, accumulated amortization and net book value, were as follows (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Other intangibles assets:

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

16,324

 

 

$

15,925

 

Accumulated amortization

 

 

(8,735

)

 

 

(8,198

)

Net book value

 

$

7,589

 

 

$

7,727

 

 

Amortization expense for total other intangible assets was $266 thousand and $537 thousand for the three and six months ended June 30, 2021, respectively, and $287 thousand and $581 thousand for the three and six months ended June 30, 2020, respectively. As of June 30, 2021, the estimated amortization expense of other intangible assets for the remainder of 2021 and each of the next five years is as follows (in thousands):

 

2021 (remainder of year)

$

513

 

2022

 

960

 

2023

 

887

 

2024

 

816

 

2025

 

745

 

2026

 

675