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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | NOTE 9: Goodwill and Other Intangible Assets ​ The carrying amount of goodwill was $25.19 million and $14.43 million at December 31, 2020 and 2019, respectively. The following table presents the changes in goodwill during the year ended December 31, 2020. There were no changes in the recorded balance of goodwill during the year ended December 30, 2019. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Community | ​ | Consumer |  | ​ | ​
(Dollars in thousands) |  | Banking |  | Finance |  | Total
Balance as of January 1, 2020 | ​ | $ | 3,702 | ​ | $ | 10,723 | ​ | $ | 14,425
Acquisition of Peoples Bankshares, Incorporated | ​ | ​ | 10,766 | ​ | ​ | — | ​ | ​ | 10,766
Balance at December 31, 2020 | ​ | $ | 14,468 | ​ | $ | 10,723 | ​ | $ | 25,191
​ The Corporation had $2.29 million and $912,000 of other intangible assets as of December 31, 2020 and 2019, respectively. Other intangible assets were recognized in connection with the core deposits acquired from Peoples in 2020 and customer relationships acquired by C&F Wealth Management in 2016. The following table summarizes the gross carrying amounts and accumulated amortization of other intangible assets: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31, | ​ | ​ | December 31,
​ | ​ | ​ | 2020 | ​ | ​ | 2019
​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​
​ | ​ | ​ | Carrying | ​ | Accumulated | ​ | ​ | Carrying | ​ | Accumulated
(Dollars in thousands) | ​ | ​ | Amount | ​ | Amortization | ​ | ​ | Amount | ​ | Amortization
Amortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Core deposit intangibles | ​ | $ | 1,711 | ​ | $ | (171) | ​ | $ | — | ​ | $ | —
Other intangibles | ​ |  | 1,405 | ​ | ​ | (654) | ​ | ​ | 1,405 | ​ | ​ | (493)
Total | ​ | $ | 3,116 | ​ | $ | (825) | ​ | $ | 1,405 | ​ | $ | (493)
​ Amortization expense was $332,000, $230,000 and $451,000 for the years ended December 31, 2020, 2019 and 2018, respectively. Amortization expense for 2019 and 2018 included expense related to core deposit intangibles recognized in a previous acquisistion, which was fully amortized by December 31, 2019. ​ Estimated future amortization expense by year as of December 31, 2020 is as follows: ​
​ | ​ | ​ | ​
(Dollars in thousands) |  |  | ​
2021 | ​ | $ | 314
2022 | ​ |  | 298
2023 | ​ |  | 273
2024 | ​ |  | 260
2025 | ​ |  | 237
Thereafter | ​ |  | 909
Total | ​ | $ | 2,291
​

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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 http://asc.fasb.org/topic&trid=2144416 + Details
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