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Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

(7) Goodwill and Intangible Assets

The carrying amount of goodwill was $125,520 at both June 30, 2025 and December 31, 2024.

Acquired intangible assets, other than goodwill, as of June 30, 2025 and December 31, 2024 were as follows:

 

 

 

June 30, 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

 

 

$

8,332

 

 

$

4,336

 

 

 

12,668

 

 

 

7,662

 

 

$

5,006

 

Total amortized intangible assets

 

$

12,668

 

 

$

8,332

 

 

$

4,336

 

 

$

12,668

 

 

$

7,662

 

 

$

5,006

 

 

Aggregate core deposit intangible amortization expense was $338 and $366, for the three months ended June 30, 2025 and 2024, respectively. Aggregate core deposit intangible amortization expense was $670 and $757, for the six months ended June 30, 2025 and 2024, respectively.

 

Activity for mortgage servicing rights ("MSRs") for the three and six months ended June 30, 2025 and June 30, 2024 were as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Mortgage Servicing Rights:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

2,832

 

 

$

2,999

 

 

$

2,877

 

 

$

3,018

 

Additions

 

 

24

 

 

 

59

 

 

 

48

 

 

 

109

 

Additions from acquisition

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Disposals

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Amortized to expense

 

 

(81

)

 

 

(84

)

 

 

(150

)

 

 

(153

)

Other charges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Change in valuation allowance

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at End of Period

 

$

2,775

 

 

$

2,974

 

 

$

2,775

 

 

$

2,974

 

 

There was no valuation allowance for the three and six months ended June 30, 2025 and June 30, 2024.

 

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

 

 

 

MSRs

 

 

Core deposit
intangibles

 

 

Total

 

2025 (1)

 

$

81

 

 

$

635

 

 

$

716

 

2026

 

 

160

 

 

 

1,193

 

 

 

1,353

 

2027

 

 

157

 

 

 

1,071

 

 

 

1,228

 

2028

 

 

151

 

 

 

793

 

 

 

944

 

2029

 

 

148

 

 

 

282

 

 

 

430

 

Thereafter

 

 

2,078

 

 

 

362

 

 

 

2,440

 

 

$

2,775

 

 

$

4,336

 

 

$

7,111

 

 

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