GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

Gross Carrying Value and Accumulated Amortization of Intangible Assets

The following table provides the gross carrying value and accumulated amortization of intangible assets as of December 31, 2019 and 2018 (in thousands):

	December 31, 2019							December 31, 2018
	Gross carrying value		Accumulated amortization			Net carrying value		Gross carrying value		Accumulated amortization			Net carrying value
Amortized intangible assets (1):
MSRs	$	1,718	$	(1,077	)	$	641	$	1,725	$	(1,066	)	$	659
Core deposit intangibles		1,786		(1,081	)		705		1,786		(851	)		935
Covenant not to compete		125		(125	)		-		125		(96	)		29
Total amortized intangible assets	$	3,629	$	(2,283	)	$	1,346	$	3,636	$	(2,013	)	$	1,623
Unamortized intangible assets:
Goodwill	$	23,296						$	23,296
(1) Excludes fully amortized intangible assets

Future Amortization Expense for 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, 2019. Future amortization expense may vary from these projections:

	MSRs		Core deposit intangibles		Covenant not to compete		Total
Year ended December 31, 2019 (actual)	$	181	$	230	$	29	$	440
Estimate for year ending December 31,
2020		179		197		-		376
2021		141		165		-		306
2022		108		133		-		241
2023		80		100		-		180
2024		57		68		-		125