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Goodwill and Other Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2024
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 September 30, 2024 and December 31, 2023 (in thousands):
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Gross carrying value |  |  | Accumulated amortization |  |  | Net carrying value |  |  | Gross carrying value |  |  | Accumulated amortization |  |  | Net carrying value |
Amortized intangible assets (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
MSRs |  | $ | 2,546 |  |  | $ | (1,726 | ) |  | $ | 820 |  |  | $ | 2,457 |  |  | $ | (1,502 | ) |  | $ | 955 |
Core deposit intangibles |  |  | 4,713 |  |  |  | (2,450 | ) |  |  | 2,263 |  |  |  | 4,713 |  |  |  | (2,018 | ) |  |  | 2,695 |
Total amortized intangible assets |  | $ | 7,259 |  |  | $ | (4,176 | ) |  | $ | 3,083 |  |  | $ | 7,170 |  |  | $ | (3,520 | ) |  | $ | 3,650 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 85,758 |  |  |  |  |  |  |  |  |  |  | $ | 85,758 |  |  |  |  |  |  |  |  |
(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). The Company based its projections of amortization expense shown below on existing asset balances at September 30, 2024. Future amortization expense may vary from these projections:
|  | MSRs |  |  | Core deposit intangibles |  |  | Total |
Three months ended September 30, 2024 (actual) |  | $ | 70 |  |  | $ | 136 |  |  | $ | 206 |
Nine months ended September 30, 2024 (actual) |  |  | 224 |  |  |  | 432 |  |  |  | 656 |
Three months ended September 30, 2023 (actual) |  |  | 80 |  |  |  | 157 |  |  |  | 237 |
Nine months ended September 30, 2023 (actual) |  |  | 228 |  |  |  | 219 |  |  |  | 447 |
Estimate for year ending December 31, |  |  |  |  |  |  |  |  |  |  |  |
Remaining 2024 |  |  | 69 |  |  |  | 132 |  |  |  | 201 |
2025 |  |  | 244 |  |  |  | 478 |  |  |  | 722 |
2026 |  |  | 193 |  |  |  | 395 |  |  |  | 588 |
2027 |  |  | 136 |  |  |  | 339 |  |  |  | 475 |
2028 |  |  | 89 |  |  |  | 284 |  |  |  | 373 |
Thereafter |  |  | 89 |  |  |  | 635 |  |  |  | 724 |
Total |  | $ | 820 |  |  | $ | 2,263 |  |  | $ | 3,083 |

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