GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

The activity impacting goodwill in 2017 and 2016 is as follows:



(in thousands)	2017		2016
Balance at beginning of year	$	4,935	$	4,935
Lake Sunapee Bank Group acquisition	95,150		—
Balance at end of year	$	100,085	$	4,935

In 2017, the Company completed its annual goodwill impairment testing using data as of September 30, 2017. The analysis was performed at the consolidated Bank level of the Company, which is considered the smallest reporting unit carrying goodwill. The step one analysis under the guidance of ASC 350 was passed, and therefore step two of the goodwill impairment test was not performed and no goodwill impairment was recognized for the year ended December 31, 2017. No impairment was recorded in 2016 and 2015.

The components of other intangible assets in 2017 and 2016 are as follows:



	2017
(in thousands)	Gross Intangible Assets		Accumulated Amortization			Net Intangible Assets
Core deposit intangible (non-maturity deposits)	$	8,585	$	(1,136	)	$	7,449
Customer list and other intangibles	1,016		(82		)	934
Total	$	9,601	$	(1,218	)	$	8,383



	2016
(in thousands)	Gross Intangible Assets		Accumulated Amortization			Net Intangible Assets
Core deposit intangible (non-maturity deposits)	$	783	$	(406	)	$	377
Total	$	783	$	(406	)	$	377

Other intangible assets are amortized on a straight-line basis over their estimated lives, which range from eight and a half years to twelve years. Amortization expenses related to intangibles totaled $812 thousand in 2017, $92 thousand in 2016 and $92 thousand in 2015.

The estimated aggregate future amortization expense for intangible assets remaining at year-end 2017 is as follows: 2018- $827 thousand; 2019- $827 thousand; 2020- $827 thousand; 2021- $742 thousand; 2022- $734 thousand; and thereafter- $4.4 million. For the years 2017, 2016 and 2015, no impairment charges were identified for the Company's intangible assets.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details