GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2018

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

7. GOODWILL AND OTHER INTANGIBLE ASSETS

The following table provides the gross carrying value and accumulated amortization of intangible assets as of December 31, 2018 and 2017 (in thousands):

	December 31, 2018							December 31, 2017
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
MSRs	$	1,725	$	(1,066	)	$	659	$	1,605	$	(912	)	$	693
Core deposit intangibles		1,786		(851	)		935		1,786		(586	)		1,200
Covenant not to compete		125		(96	)		29		125		(65	)		60
Total amortized intangible assets	$	3,636	$	(2,013	)	$	1,623	$	3,516	$	(1,563	)	$	1,953
Unamortized intangible assets:
Goodwill	$	23,296						$	23,296
(1) Excludes fully amortized intangible assets

The following table provides the current year and estimated future amortization expense for the next five years of amortized intangible assets (in thousands). We based our projections of amortization expense shown below on existing asset balances at December 31, 2018. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Covenant not to compete		Total
Year ended December 31, 2018 (actual)	$	184	$	265	$	31	$	480
Estimate for year ending December 31,
2019		181		230		29		440
2020		143		197		-		340
2021		111		165		-		276
2022		83		133		-		216
2023		60		100		-		160