Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

(7) Goodwill and Intangible Assets

The carrying amount of goodwill was $125,520 at both March 31, 2025 and December 31, 2024.

Acquired intangible assets, other than goodwill, as of March 31, 2025 and December 31, 2024 were as follows:


	March 31, 2025						December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Core deposit intangibles	$	12,668	$	7,994	$	4,674		12,668		7,662	$	5,006
Total amortized intangible assets	$	12,668	$	7,994	$	4,674	$	12,668	$	7,662	$	5,006

Aggregate core deposit intangible amortization expense was $332 and $391, for the three months ended March 31, 2025 and 2024, respectively.

Activity for mortgage servicing rights ("MSRs") for the three months ended March 31, 2025 and March 31, 2024 were as follows:


	Three Months Ended March 31,
	2025			2024
Mortgage Servicing Rights:
Balance at Beginning of Period	$	2,877		$	3,018
Additions		24			50
Additions from acquisition		—			—
Disposals		—			—
Amortized to expense		(69	)		(69	)
Other charges		—			—
Change in valuation allowance		—			—
Balance at End of Period	$	2,832		$	2,999

There was no valuation allowance for the three months ended March 31, 2025 and March 31, 2024.

Estimated amortization expense for each of the next five years and thereafter is as follows:

(1) 2025 includes nine months of amortization expense for the period from April 1, 2025 through December 31, 2025.