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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets: Goodwill associated with the Company’s purchases of Emlenton in January 2023, Champion Insurance in July 2022 and other past acquisitions totaled $167.9 million at June 30, 2023 and $94.6 million at December 31, 2022. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value, which is determined through an impairment test. Management performs goodwill impairment testing on an annual basis as of September 30. The fair value of the reporting units is determined using a combination of a discounted cash flow method and a market approach method. Results of the assessment as of September 30, 2022, indicated no goodwill impairment. The Company will continue to monitor its goodwill for possible impairment. Acquired Intangible Assets Acquired intangible assets were as follows:
| June 30, 2023 |  |  | December 31, 2022 |
(In Thousands of Dollars) | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles | $ | 7,210 |  |  | $ | (6,873 | ) |  | $ | 7,210 |  |  | $ | (6,793 | )
Non-compete contracts |  | 457 |  |  |  | (407 | ) |  |  | 457 |  |  |  | (401 | )
Trade name |  | 1,126 |  |  |  | (425 | ) |  |  | 1,126 |  |  |  | (409 | )
Core deposit intangible |  | 32,115 |  |  |  | (9,059 | ) |  |  | 12,866 |  |  |  | (7,030 | )
Total | $ | 40,908 |  |  | $ | (16,764 | ) |  | $ | 21,659 |  |  | $ | (14,633 | )
Aggregate amortization expense was $1.2 million and $2.1 million for the three and six month periods ended June 30, 2023. Amortization expense was $419 thousand and $839 thousand for the three and six month periods ended June 30, 2022. Estimated amortization expense for each of the next five periods and thereafter:
2023 (6 months) | $ | 1,450 |
2024 |  | 2,872 |
2025 |  | 2,806 |
2026 |  | 2,710 |
2027 |  | 2,596 |
Thereafter |  | 11,710 |
Total | $ | 24,144 |

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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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