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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | (7) Goodwill and Intangible Assets There was no change in the carrying amount of goodwill of $76,851 for the periods ended September 30, 2021 and December 31, 2020. Acquired intangible assets, other than goodwill, as of September 30, 2021 and December 31, 2020 were as follows:
|  | 2021 |  |  | 2020 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortized intangible assets(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Core deposit intangibles |  | $ | 8,527 |  |  | $ | 3,365 |  |  | $ | 5,162 |  |  | $ | 8,527 |  |  | $ | 2,698 |  |  | $ | 5,829 |
Total amortized intangible assets |  | $ | 8,527 |  |  | $ | 3,365 |  |  | $ | 5,162 |  |  | $ | 8,527 |  |  | $ | 2,698 |  |  | $ | 5,829 |
(1) | Excludes fully amortized intangible assets. Certain fully amortized assets were removed from the 2020 presentation.
Aggregate core deposit intangible amortization expense was $223 and $227 for the three months ended September 30, 2021 and 2020, respectively, and $668 and $686 for the nine-months ended September 30, 2021 and 2020, respectively. Activity for mortgage servicing rights (MSRs) and the related valuation allowance for the three- and nine-month periods ended September 30, 2021 and September 30, 2020 were as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Loan Servicing Rights: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | 2,745 |  |  | $ | 1,717 |  |  | $ | 2,246 |  |  | $ | 1,562 |
Additions |  |  | 164 |  |  |  | 381 |  |  |  | 562 |  |  |  | 924 |
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Amortized to expense |  |  | (144 | ) |  |  | (135 | ) |  |  | (436 | ) |  |  | (361 | )
Other charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Change in valuation allowance |  |  | (189 | ) |  |  | 25 |  |  |  | 204 |  |  |  | (137 | )
Balance at End of Period |  | $ | 2,576 |  |  | $ | 1,988 |  |  | $ | 2,576 |  |  | $ | 1,988 |
Valuation allowance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | (189 | ) |  | $ | 264 |  |  | $ | 204 |  |  | $ | 102 |
Additions expensed |  |  | 189 |  |  |  | — |  |  |  | 261 |  |  |  | 162 |
Reductions credited to operations |  |  | — |  |  |  | (25 | ) |  |  | (465 | ) |  |  | (25 | )
Direct write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at End of Period |  | $ | — |  |  | $ | 239 |  |  | $ | — |  |  | $ | 239 |
Estimated amortization expense for each of the next five years and thereafter is as follows:
|  | MSRs |  |  | Core deposit intangibles |  |  | Total |
2021 |  | $ | 33 |  |  | $ | 223 |  |  | $ | 256 |
2022 |  |  | 134 |  |  |  | 868 |  |  |  | 1,002 |
2023 |  |  | 133 |  |  |  | 841 |  |  |  | 974 |
2024 |  |  | 133 |  |  |  | 804 |  |  |  | 937 |
2025 |  |  | 132 |  |  |  | 708 |  |  |  | 840 |
Thereafter |  |  | 2,011 |  |  |  | 1,718 |  |  |  | 3,729 |
|  | $ | 2,576 |  |  | $ | 5,162 |  |  | $ | 7,738 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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