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Note 7 - Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
7. | GOODWILL AND INTANGIBLE ASSETS
Goodwill totaled $31.7 million and $15.1 million for the years ended December 31, 2022 and 2021, respectively. Core deposit intangible carrying amount was $7.7 million and $1.4 million for the years ended December 31, 2022, and 2021, respectively. Core deposit accumulated amortization was $2.1 million and $1.7 million for the years ended December 31, 2022, and 2021. Amortization expense totaled $372,000 and $321,000 in 2022 and 2021, respectively. Core deposit intangible assets are amortized to their estimated residual values over their expected useful lives, commonly ten years. The estimated aggregate future amortization expense for core deposit intangible assets as of December 31, 2022, is as follows:
(Dollar amounts in thousands) |
Remaining 2023 |  | $ | 1,059 |
2024 |  |  | 1,031 |
2025 |  |  | 998 |
2026 |  |  | 968 |
2027 |  |  | 691 |
Thereafter |  |  | 2,954 |
Total |  | $ | 7,701 |
Activity for mortgage servicing rights (“MSR”s) follows:
(Dollar amounts in thousands) |  | 2022 |  |  | 2021 |
Beginning of year |  | $ | 542 |  |  | $ | 476 |
Purchases (1) |  |  | 1,680 |  |  |  | - |
Additions |  |  | 19 |  |  |  | 257 |
Amortized to expense |  |  | (169 | ) |  |  | (191 | )
End of year |  | $ | 2,072 |  |  | $ | 542 |
| (1) | This reflects the fair value of the mortgage servicing rights acquired in the merger.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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