Goodwill and other intangible assets acquired in a business combination and determined to have an indefinite useful life are not amortized but tested for impairment at least annually or more frequently if events and circumstances exist that indicate that an impairment test should be performed. Intangible assets with definite useful lives are amortized over their estimated useful lives, which range from 5 to 12 years. Goodwill is the only intangible asset with an indefinite life on the consolidated balance sheets.

During the third quarter of 2023, management concluded that goodwill had become impaired as a result of the decline in the Company's stock price and its market value relative to its book value. Accordingly, an impairment charge totaling $26.8 million, the entire amount of goodwill reported in the consolidated balance sheet, was recognized during the third quarter of 2023. As of December 31, 2022, the Company's goodwill totaled $26.8 million.

The following table presents information on amortizable intangible assets included on the consolidated balance sheets as of the dates stated.


	September 30, 2023
(Dollars in thousands)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Core deposit intangibles	$	9,626	$	(5,286	)	$	4,340
Other amortizable intangibles		3,318		(2,138	)		1,180
Total	$	12,944	$	(7,424	)	$	5,520

	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

Included in other amortizable intangibles were loan servicing assets of $1.2 million and $876 thousand at September 30, 2023 and December 31, 2022, respectively, related to the servicing of the government guaranteed portion of certain loans that the Company has sold. Loan servicing assets of $405 thousand were added during the nine months ended September 30, 2023. The amortization of these intangibles is included in interest and fees on loans in the consolidated statements of operations totaled $96 thousand and $84 thousand for the three months ended September 30, 2023 and 2022, respectively, and $101 thousand and $274 thousand for the nine months ended September 30, 2023 and September 30, 2022, respectively.

The Company retains servicing rights on residential mortgages originated and sold into the secondary market. The fair value of MSR assets was $29.1 million and $29.0 million as of September 30, 2023 and December 31, 2022, respectively.