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GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2021

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

8. GOODWILL AND OTHER INTANGIBLE ASSETS

Information related to core deposit intangibles is as follows:


(In Thousands)	September 30,		December 31,
	2021		2020
Gross amount	$	6,639	$	6,639
Accumulated amortization		(3,189)		(2,788)
Net	$	3,450	$	3,851

Amortization expense related to core deposit intangibles is included in other noninterest expense in the consolidated statements of income, as follows:


(In Thousands)	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2021		2020		2021		2020
Amortization expense	$	133	$	208	$	401	$	332

Goodwill represents the excess of the cost of acquisitions over the fair value of the net assets acquired. At September 30, 2021 and December 31, 2020, the net carrying value of goodwill was $52,505,000. Changes in the carrying amount of goodwill are summarized in the following table:


(In Thousands)	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2021		2020		2021		2020
Balance, beginning of period	$	52,505	$	28,388	$	52,505	$	28,388
Goodwill arising in business combination		0		24,138		0		24,138
Balance, end of period	$	52,505	$	52,526	$	52,505	$	52,526