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GOODWILL AND OTHER INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2024

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

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 March 31, 2024 and December 31, 2023, the net carrying value of goodwill was $52,505,000.

​

Information related to core deposit intangibles is as follows:

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​	​	​	​	​	​	​	​
(In Thousands)		March 31,			December 31,
​	​	2024		​	2023
Gross amount	​	$	6,639	​	$	6,639	​
Accumulated amortization	​		(4,267)	​		(4,170)	​
Net	​	$	2,372	​	$	2,469	​

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

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​	​	​	​	​	​	​
(In Thousands)	​	Three Months Ended
​	​	March 31,		​	March 31,
​		2024			2023
Amortization expense	​	$	97		$	102

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350-30/tableOfContent

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