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GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Dec. 31, 2023

NOTE 5. GOODWILL AND OTHER INTANGIBLES

The activity impacting goodwill in 2023 and 2022 is as follows:


(in thousands)	2023		2022
Balance at beginning of year	$	119,477	$	119,477
Acquisition		—		—
Balance at end of year	$	119,477	$	119,477

In the fourth quarter of 2023, we completed annual goodwill impairment testing using balance sheet and market data as of September 30, 2023. The analysis was performed at the consolidated Bank level, which is considered the smallest reporting unit carrying goodwill. No goodwill impairment was recognized for the years ended December 31, 2023, 2022 and 2021.

The components of other intangible assets in 2023 and 2022 are as follows:


	2023
	Gross		Accumulated		Net Intangible
(in thousands)	Intangible Assets		Amortization		Assets
Core deposit intangible (non-maturity deposits)	$	9,483	$	(5,686)	$	3,797
Customer list and other intangibles		2,118		(1,046)		1,072
Total	$	11,601	$	(6,732)	$	4,869


	2022
	Gross		Accumulated		Net Intangible
(in thousands)	Intangible Assets		Amortization		Assets
Core deposit intangible (non-maturity deposits)	$	9,483	$	(4,948)	$	4,535
Customer list and other intangibles		2,118		(852)		1,266
Total	$	11,601	$	(5,800)	$	5,801

Other intangible assets are amortized on a straight-line basis over their estimated lives, which range from five years to 11 years. Amortization expenses related to intangibles totaled $932 thousand in 2023, $932 thousand in 2022 and $940 thousand in 2021.

The estimated aggregate future amortization expense for other intangible assets remaining at year end 2023 is as follows:


	Other Intangible
(in thousands)	Assets
2024	$	932
2025		932
2026		932
2027		932
2028		959
and thereafter		182
Total	$	4,869