Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 12 – Goodwill and Other Intangible Assets

The table below summarizes the changes in carrying amounts of goodwill and other intangibles, including core deposit intangibles, for the periods presented:


			Intangibles
(Dollars in thousands)	Goodwill		Gross		Accumulated Amortization		Net
Balance at January 1, 2024	$	2,838	$	600	$	(248)	$	352
Amortization expense	—		—		(90)		(90)
Balance at December 31, 2024	$	2,838	$	600	$	(338)	$	262

Balance at January 1, 2023	$	3,988	$	3,820	$	(2,189)	$	1,631
Reduction of goodwill and intangibles resulting from sale of Chartwell	(1,150)		(3,220)		2,133		(1,087)
Amortization expense	—		—		(192)		(192)
Balance at December 31, 2023	$	2,838	$	600	$	(248)	$	352

Balance at January 1, 2022	$	3,988	$	3,820	$	(1,504)	$	2,316
Amortization expense	—		—		(685)		(685)
Balance at December 31, 2022	$	3,988	$	3,820	$	(2,189)	$	1,631

Goodwill represents the excess of the purchase price over the fair value of acquired net assets under the acquisition method of accounting. Intangibles resulting represent customer relationships and trade name related to prior acquisitions. These items are amortized over four years and 10 years, respectively.

The table below presents estimated amortization expense for our other intangible assets (dollars in thousands):


2025	$	52
2026	40
2027	40
2028	40
2029	40
Thereafter	50
	$	262

Goodwill and intangibles are evaluated for impairment if events and circumstances indicate a potential for impairment. No impairment charges were recorded for other intangible assets in any of the periods presented.