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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Total goodwill at December 31, 2024 and 2023 was $96,828,000 and $53,777,000 respectively. Total goodwill at December 31, 2024 consisted of $43,051,000, $13,466,000, $10,394,000, $6,340,000, $14,643,000, and $8,934,000 representing the excess of the fair value of the consideration transferred of Community West Bancshares, Folsom Lake Bank, Sierra Vista Bank, Visalia Community Bank, Service 1 st Bancorp, and Bank of Madera County, respectively, over the fair value of the net assets acquired and liabilities assumed as of each acquisition date accounted for under the purchase method of accounting. Intangible assets represent the estimated fair value of the core deposit relationships acquired in the 2024 acquisition of Community West Bancshares. Upon acquisition, the core deposit intangible asset of Community West Bancshares was recorded as $10,019,000. The following table summarizes the changes in the Company’s goodwill and core deposit intangible assets for the twelve months ended December 31, 2024 and 2023 (in thousands):
|  | Years Ended December 31,
|  | 2024 |  | 2023
|  | Goodwill |  | Core Deposit Intangibles |  | Goodwill |  | Core Deposit Intangibles |
Beginning Balance |  | $ | 53,777 |  |  | $ | — |  |  | $ | 53,777 |  |  | $ | 68 |  |
Additions |  | 43,051 |  |  | 10,019 |  |  | — |  |  | — |  |
Amortizations |  | — |  |  | (751) |  |  | — |  |  | (68) |  |
Ending Balance |  | $ | 96,828 |  |  | $ | 9,268 |  |  | $ | 53,777 |  |  | $ | — |  |
The following table presents the estimated amortization expense for core deposit intangible assets remaining at December 31, 2024 (in thousands):
|  | Estimated Amortization
2025 |  | $ | 1,002 |
2026 |  | 1,002 |
2027 |  | 1,002 |
2028 |  | 1,002 |
2029 |  | 1,002 |
Thereafter |  | 4,258 |
Total |  | $ | 9,268 |

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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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