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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | (7) Goodwill and Intangible Assets The carrying amount of goodwill has decreased $617 since December 31, 2022 as a result of adjustments to estimated fair values of the assets acquired and liabilities assumed since the date of acquisition. The balance of goodwill was $125,078 at September 30, 2023 and $125,695 at December 31, 2022. Acquired intangible assets, other than goodwill, as of September 30, 2023 and December 31, 2022 were as follows:
|  | September 30, 2023 |  |  | December 31, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Core deposit intangibles |  | $ | 12,952 |  |  | $ | 6,078 |  |  | $ | 6,874 |  |  | $ | 12,953 |  |  | $ | 4,883 |  |  | $ | 8,070 |
Total amortized intangible assets |  | $ | 12,952 |  |  | $ | 6,078 |  |  | $ | 6,874 |  |  | $ | 12,953 |  |  | $ | 4,883 |  |  | $ | 8,070 |
Aggregate core deposit intangible amortization expense was $398, and $456, for the three-months ended September 30, 2023 and 2022, respectively. Aggregate core deposit intangible amortization expense was $1,195 and $890 for the nine-months ended September 30, 2023 and September 30, 2022, respectively. Activity for mortgage servicing rights (MSRs) and the related valuation allowance for the three- and nine- months ended September 30, 2023 and September 30, 2022 were as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Loan Servicing Rights: |  |  |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | 3,056 |  |  | $ | 2,664 |  |  | $ | 2,689 |  |  | $ | 2,642 |
Additions |  |  | 76 |  |  |  | 91 |  |  |  | 600 |  |  |  | 317 |
Additions from acquisition |  |  | — |  |  |  | 419 |  |  |  | — |  |  |  | 419 |
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Amortized to expense |  |  | (86 | ) |  |  | (95 | ) |  |  | (243 | ) |  |  | (299 | )
Other charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Change in valuation allowance |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at End of Period |  | $ | 3,046 |  |  | $ | 3,079 |  |  | $ | 3,046 |  |  | $ | 3,079 |
Valuation allowance: |  |  |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Additions expensed |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Reductions credited to operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Direct write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at End of Period |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Estimated amortization expense for each of the next five years and thereafter is as follows:
|  | MSRs |  |  | Core deposit intangibles |  |  | Total |
2023 |  | $ | 43 |  |  | $ | 384 |  |  | $ | 427 |
2024 |  |  | 171 |  |  |  | 1,489 |  |  |  | 1,660 |
2025 |  |  | 170 |  |  |  | 1,312 |  |  |  | 1,482 |
2026 |  |  | 168 |  |  |  | 1,193 |  |  |  | 1,361 |
2027 |  |  | 163 |  |  |  | 1,071 |  |  |  | 1,234 |
Thereafter |  |  | 2,331 |  |  |  | 1,425 |  |  |  | 3,756 |
|  | $ | 3,046 |  |  | $ | 6,874 |  |  | $ | 9,920 |

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