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GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2023

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

7. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill represents the excess of the cost of acquisitions over the fair value of the net assets acquired. At September 30, 2023 and December 31, 2022, the net carrying value of goodwill was $52,505,000.

Information related to core deposit intangibles is as follows:


(In Thousands)		September 30,			December 31,
		2023			2022
Gross amount		$	6,639		$	6,639
Accumulated amortization			(4,068)			(3,762)
Net		$	2,571		$	2,877

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,
		2023			2022			2023			2022
Amortization expense		$	102		$	110		$	306		$	329