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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | (7.) GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The carrying amount of goodwill totaled $67.1 million as of both September 30, 2023 and December 31, 2022. 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, 2022 |  | $ | 48,536 |  |  | $ | 18,535 |  |  | $ | 67,071 |
Acquisitions |  |  | — |  |  |  | — |  |  |  | — |
Balance, September 30, 2023 |  | $ | 48,536 |  |  | $ | 18,535 |  |  | $ | 67,071 |
(1) All Other includes the SDN and Courier Capital reporting units. Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Based on the capital markets downturn for bank stocks due to macroeconomic pressures, including inflation, along with volatility in the banking industry as a result of recent bank failures during the first half of 2023, a goodwill impairment test was performed for the Banking reporting unit in the second quarter of 2023. Based on this quantitative assessment, the Company concluded that goodwill was not impaired. In the third quarter of 2023, the Company performed a qualitative assessment of its goodwill. Based on this assessment, the Company concluded that it was not more likely than not that goodwill was impaired as of September 30, 2023. Therefore, no quantitative assessment was deemed necessary at September 30, 2023. (7.) GOODWILL AND OTHER INTANGIBLE ASSETS (Continued) 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):
|  | September 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Core deposit intangibles: |  |  |  |  |  |
Gross carrying amount |  | $ | 2,042 |  |  | $ | 2,042 |
Accumulated amortization |  |  | (2,042 | ) |  |  | (2,042 | )
Net book value |  | $ | — |  |  | $ | — |
Other intangibles: |  |  |  |  |  |
Gross carrying amount |  | $ | 14,545 |  |  | $ | 14,545 |
Accumulated amortization |  |  | (8,891 | ) |  |  | (8,202 | )
Net book value |  | $ | 5,654 |  |  | $ | 6,343 |
Amortization expense for total other intangible assets was $225 thousand and $689 thousand for the three and nine months ended September 30, 2023, and $244 thousand and $747 thousand for the three and nine months ended September 30, 2022. As of September 30, 2023, the estimated amortization expense of other intangible assets for the remainder of 2023 and each of the next five years is as follows (in thousands):
2023 (remainder of year) | $ | 221 |
2024 |  | 838 |
2025 |  | 766 |
2026 |  | 694 |
2027 |  | 623 |
2028 |  | 551 |
Thereafter |  | 1,961 |
Total | $ | 5,654 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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