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Goodwill and Acquired Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The change in the balance for goodwill was as follows:
(Dollars in thousands) | 2023 |  |  | 2022 |
Balance, beginning of year | $ | 59,946 |  |  | $ | 59,946 |
Goodwill adjustment from merger with Community Shores Bank Corporation |  | - |  |  |  | - |
Balance, end of year | $ | 59,946 |  |  | $ | 59,946 |
Schedule of Acquired Intangible Assets | Information for acquired intangible assets at December 31 is as follows:
| 2023 |  |  | 2022 |
| Gross |  |  |  |  |  | Gross |  |  |  |
| Carrying |  |  | Accumulated |  |  | Carrying |  |  | Accumulated |
(Dollars in thousands) | Amount |  |  | Amortization |  |  | Amount |  |  | Amortization |
Core deposit intangible | $ | 7,120 |  |  | $ | 5,266 |  |  | $ | 7,120 |  |  | $ | 4,311 |
Schedule of Estimated Amortization Expense | The estimated amortization expense for the next five years ending December 31 is as follows (dollars in thousands):
2024 | $ | 757 |
2025 |  | 560 |
2026 |  | 362 |
2027 |  | 164 |
2028 |  | 11 |
Total | $ | 1,854 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
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