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Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

NOTE 9 – GOODWILL AND INTANGIBLE ASSETS

Goodwill associated with the Company’s purchases of Monitor in August 2017, Bowers in June 2016 and other past acquisitions totaled $38.2 million at December 31, 2018 and 2017. The Monitor acquisition is more fully described in Note 2 - Business Acquisitions. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value, which is determined through a two-step impairment test. Management performs goodwill impairment testing on an annual basis as of September 30. The Fair value of the reporting unit is determined based on a discounted cash flow model.

Acquired Intangible Assets

Acquired intangible assets were as follows:

	2018					2017
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Other intangible:
Customer relationship intangibles	$	7,210	$	(5,481	)	$	7,210	$	(4,919	)
Non-compete contracts		430		(380	)		430		(376	)
Trade Name		520		(229	)		520		(175	)
Core deposit intangible		6,254		(2,573	)		6,254		(1,776	)
Total	$	14,414	$	(8,663	)	$	14,414	$	(7,246	)

Aggregate amortization expense was $1.4 million for 2018 and $1.5 million for 2017 and 2016.

Estimated amortization expense for each of the next five years and thereafter:

2019	$	1,306
2020		1,203
2021		1,142
2022		1,025
2023		514
Thereafter		561
TOTAL	$	5,751