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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2025
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | Note 5: Goodwill and Other Intangible Assets Goodwill was $12.0 million at September 30, 2025 and December 31, 2024. Goodwill is not amortized but is subject to, at a minimum, an annual test for impairment. Other intangible assets consist of core deposit relationships and favorable lease terms. ​ The following table presents a summary of other intangible assets at September 30, 2025 and December 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
(dollars in thousands) |  | 2025 |  | 2024
Core Deposit Intangible | ​ | $ | 8,833 | ​ | $ | 8,833
Favorable Lease | ​ |  | 445 | ​ |  | 445
Subtotal | ​ |  | 9,278 | ​ |  | 9,278
Accumulated Amortization | ​ |  | (2,118) | ​ |  | (1,428)
Totals | ​ | $ | 7,160 | ​ | $ | 7,850
​ Amortization expense of other intangible assets was $230,000 for the three months ended September 30, 2025 and $9,000 for the three months ended September 30, 2024. Amortization expense of other intangible assets was $690,000 for the nine months ended September 30, 2025 and $26,000 for the nine months ended September 30, 2024. The core deposit intangible asset is amortized over its estimated useful life of ten years. ​ The following table presents the estimated future amortization of the core deposit intangible and favorable lease assets for the next five years and thereafter. The projections of amortization expense are based on existing asset balances as of September 30, 2025.
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Core Deposit | ​ | Favorable
(dollars in thousands) | ​ | Intangible |  | Lease
2025 | ​ | $ | 221 | ​ | $ | 9
2026 | ​ |  | 871 | ​ |  | 34
2027 | ​ |  | 852 | ​ |  | 34
2028 | ​ |  | 830 | ​ |  | 34
2029 | ​ |  | 803 | ​ |  | 18
2030 | ​ | ​ | 773 | ​ | ​ | —
Thereafter | ​ |  | 2,681 | ​ |  | —
Totals | ​ | $ | 7,031 | ​ | $ | 129
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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