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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | NOTE 10 – GOODWILL AND INTANGIBLE ASSETS Goodwill is determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and the liabilities assumed as of the acquisition date. Goodwill and other intangible assets are assessed for impairment annually or whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible represents the estimated future benefit of deposits related to an acquisition and is booked separately from the related deposits and amortized over an estimated useful live of seven to ten years. Goodwill The Company’s policy is to assess goodwill for impairment at the reporting unit level on an annual basis or between annual assessments if a triggering event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Impairment exists when a reporting unit’s fair value is less than its carrying amount, including goodwill. Changes in the Company's goodwill at September 30, 2022 and December 31, 2021 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ | ​ | 2022 | ​ | 2021
Balance at beginning of period | ​ | $ | 38,838 | ​ | $ | 38,838
Acquired goodwill | ​ |  | — | ​ |  | —
Impairment | ​ |  | — | ​ |  | —
Balance at end of period | ​ | $ | 38,838 | ​ | $ | 38,838
​ Core Deposit Intangible Changes in the Company’s core deposit intangible at September 30, 2022 and December 31, 2021 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ | ​ | 2022 | ​ | 2021
Balance at beginning of period | ​ | $ | 6,489 | ​ | $ | 8,302
Additions | ​ |  | 756 | ​ |  | —
Less amortization | ​ |  | (1,527) | ​ |  | (1,813)
Balance at end of period | ​ | $ | 5,718 | ​ | $ | 6,489
​ Estimated annual amortization expense at September 30, 2022 is as follows: ​
​ | ​ | ​ | ​
For remainder of 2022 | ​ | $ | 517
2023 | ​ |  | 1,286
2024 | ​ |  | 1,222
2025 | ​ |  | 948
2026 | ​ | ​ | 455
Thereafter | ​ |  | 1,290
Total | ​ | $ | 5,718
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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