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Goodwill and Intangible Assets
 9 Months Ended
Sep. 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 September 30, 2025 and December 31, 2024.

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

 

 

 

September 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

 

 

$

8,650

 

 

$

4,018

 

 

 

12,668

 

 

 

7,662

 

 

$

5,006

 

Total amortized intangible assets

 

$

12,668

 

 

$

8,650

 

 

$

4,018

 

 

$

12,668

 

 

$

7,662

 

 

$

5,006

 

 

Aggregate core deposit intangible amortization expense was $318 and $363 for the three months ended September 30, 2025 and 2024, respectively. Aggregate core deposit intangible amortization expense was $988 and $1,120 for the nine months ended September 30, 2025 and 2024, respectively.

 

Activity for mortgage servicing rights ("MSRs") for the three and nine months ended September 30, 2025 and September 30, 2024 was as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Mortgage Servicing Rights:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

2,775

 

 

$

2,974

 

 

$

2,877

 

 

$

3,018

 

Additions

 

 

41

 

 

 

90

 

 

 

89

 

 

 

199

 

Additions from acquisition

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Disposals

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Amortized to expense

 

 

(78

)

 

 

(125

)

 

 

(228

)

 

 

(278

)

Other charges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Change in valuation allowance

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at End of Period

 

$

2,738

 

 

$

2,939

 

 

$

2,738

 

 

$

2,939

 

 

 

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

 

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

 

 

 

MSRs

 

 

Core deposit
intangibles

 

 

Total

 

2025 (1)

 

$

40

 

 

$

318

 

 

$

358

 

2026

 

 

159

 

 

 

1,193

 

 

 

1,352

 

2027

 

 

156

 

 

 

1,071

 

 

 

1,227

 

2028

 

 

150

 

 

 

793

 

 

 

943

 

2029

 

 

149

 

 

 

282

 

 

 

431

 

Thereafter

 

 

2,084

 

 

 

361

 

 

 

2,445

 

 

$

2,738

 

 

$

4,018

 

 

$

6,756

 

 

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