XML 28 R15.htm IDEA: XBRL DOCUMENT
v3.23.3

Goodwill and Other Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Note 6. Goodwill and Other Intangible Assets As of December 31, 2022 and 2021, goodwill totaled $26.8 million. The following tables present information on amortizable intangible assets included on the consolidated balance sheets as of the dates stated.
|  | December 31, 2022 |
(Dollars in thousands) |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Core deposit intangibles |  | $ | 9,626 |  |  | $ | (4,330 | ) |  | $ | 5,296 |
Other amortizable intangibles |  |  | 3,282 |  |  |  | (1,995 | ) |  |  | 1,287 |
Total |  | $ | 12,908 |  |  | $ | (6,325 | ) |  | $ | 6,583 |
|  | December 31, 2021 |
(Dollars in thousands) |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Core deposit intangibles |  | $ | 9,626 |  |  | $ | (2,908 | ) |  | $ | 6,718 |
Other amortizable intangibles |  |  | 2,463 |  |  |  | (1,587 | ) |  |  | 876 |
Total |  | $ | 12,089 |  |  | $ | (4,495 | ) |  | $ | 7,594 |
Intangible amortization expense is included in noninterest expense or interest and fees on loans in the consolidated statements of operations depending on the intangible. For the years ended December 31, 2022, 2021, and 2020, intangible amortization expense totaled $1.5 million, $1.7 million, and $629 thousand, respectively. Included in other amortizable intangibles were loan servicing assets of $876 thousand and $362 thousand as of December 31, 2022 and 2021, respectively, related to the servicing of the government guaranteed portion of certain loans that the Company has sold. Loan servicing assets of $820 thousand and $266 thousand were added during the years ended December 31, 2022 and 2021, respectively. The amortization of these intangibles is included in interest and fees on loans in the consolidated statement of operations and totaled $306 thousand for the year ended December 31, 2022. The following table presents estimated intangible asset amortization expense of the core deposit intangibles and other amortizable intangibles for the next five years and thereafter from the date stated.
(Dollars in thousands) |  | December 31, 2022 |
2023 |  | $ | 1,355 |
2024 |  |  | 1,221 |
2025 |  |  | 1,046 |
2026 |  |  | 1,073 |
2027 |  |  | 627 |
Thereafter |  |  | 1,261 |
Total |  | $ | 6,583 |
The Company retains servicing rights on mortgages originated and sold to the secondary market. Beginning January 1, 2022, the Company elected the fair value measurement method for accounting for MSR assets, pursuant to which assets are initially recorded at fair value and subsequently adjusted to fair value at each reporting period. Prior to this election, the Company accounted for MSR assets under the amortization method, whereby the MSR assets were recorded at the lower of cost or fair value. As of December 31, 2022, the fair value of MSR assets was $29.0 million, and at December 31, 2021, the carrying value of MSR assets under the amortization method was $16.5 million.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration