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Goodwill and Other Intangible Assets (Tables)

9 Months Ended

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