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Note 8 - Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | NOTE 8 . GOODWILL AND Intangible Assets The following is an analysis of the core deposit intangible activity for the years ended December 31:
|  | 2019 |  |  | 2018 |
(dollars in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Core deposit intangible |  | $ | 4,716 |  |  | $ | 1,660 |  |  | $ | 1,616 |  |  | $ | 1,060 |
Total |  |  | 4,716 |  |  |  | 1,660 |  |  |  | 1,616 |  |  |  | 1,060 |
Unamortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 16,477 |  |  |  |  |  |  | $ | 202 |  |  |  |  |
Activity related to transactions since January 1, 2018 includes the following:
| ( 1 ) | In connection with the October 22, 2018 acquisition of Albany, Georgia branch from Planters First Bank, the Company recorded $560,000 in a core deposit intangible and $202,000 in goodwill.
| ( 2 ) | In connection with the LBC Bancshares, Inc. acquisition on May 1, 2019, the Company recorded $3.1 million in a core deposit intangible and $15.7 million in goodwill.
| ( 3 ) | In connection with the May 1, 2019 acquisition of PFB Mortgage from Planters First Bank, the Company recorded $541,000 in goodwill.
Amortization expense related to the core deposit intangible was $600,000 and $48,000 at December 31, 2019 and 2018, respectively. The estimated future amortization expense for intangible assets remaining as of December 31, 2019 is as follows:
|  | Amount |
(dollars in thousands) |  |  |  |
2020 |  | $ | 776 |
2021 |  |  | 665 |
2022 |  |  | 554 |
2023 |  |  | 444 |
2024 |  |  | 333 |
Thereafter |  |  | 284 |
Total |  | $ | 3,056 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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