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Goodwill and Other Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2020
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 June 30, 2020 and December 31, 2019 (in thousands):
|  | June 30, 2020 |  |  | December 31, 2019 |
|  | Gross carrying value |  |  | Accumulated amortization |  |  | Net carrying value |  |  | Gross carrying value |  |  | Accumulated amortization |  |  | Net carrying value |
Amortized intangible assets (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
MSRs |  | $ | 1,838 |  |  | $ | (1,174 | ) |  | $ | 664 |  |  | $ | 1,718 |  |  | $ | (1,077 | ) |  | $ | 641 |
Core deposit intangibles |  |  | 1,943 |  |  |  | (1,186 | ) |  |  | 757 |  |  |  | 1,786 |  |  |  | (1,081 | ) |  |  | 705 |
Covenant not to compete |  |  | 125 |  |  |  | (125 | ) |  |  | - |  |  |  | 125 |  |  |  | (125 | ) |  |  | - |
Total amortized intangible assets |  | $ | 3,906 |  |  | $ | (2,485 | ) |  | $ | 1,421 |  |  | $ | 3,629 |  |  | $ | (2,283 | ) |  | $ | 1,346 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 31,376 |  |  |  |  |  |  |  |  |  |  | $ | 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 amortized intangible assets for the next five years (in thousands). We based our projections of amortization expense shown below on existing asset balances at June 30, 2020. Future amortization expense may vary from these projections:
|  | MSRs |  |  | Core deposit intangibles |  |  | Covenant not to compete |  |  | Total |
Three months ended June 30, 2020 (actual) |  | $ | 49 |  |  | $ | 55 |  |  | $ | - |  |  | $ | 104 |
Six months ended June 30, 2020 (actual) |  |  | 97 |  |  |  | 105 |  |  |  | - |  |  |  | 202 |
Three months ended June 30, 2019 (actual) |  |  | 46 |  |  |  | 58 |  |  |  | 8 |  |  |  | 112 |
Six months ended June 30, 2019 (actual) |  |  | 94 |  |  |  | 116 |  |  |  | 16 |  |  |  | 226 |
Estimate for year ending December 31, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Remaining 2020 |  |  | 98 |  |  |  | 112 |  |  |  | - |  |  |  | 210 |
2021 |  |  | 165 |  |  |  | 192 |  |  |  | - |  |  |  | 357 |
2022 |  |  | 128 |  |  |  | 156 |  |  |  | - |  |  |  | 284 |
2023 |  |  | 97 |  |  |  | 121 |  |  |  | - |  |  |  | 218 |
2024 |  |  | 71 |  |  |  | 85 |  |  |  | - |  |  |  | 156 |
Thereafter |  |  | 105 |  |  |  | 91 |  |  |  | - |  |  |  | 196 |
Total |  | $ | 664 |  |  | $ | 757 |  |  | $ | - |  |  | $ | 1,421 |

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