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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | NOTE 8: Goodwill and Other Intangible Assets ​ The carrying amount of goodwill was $25.19 million at December 31, 2023 and 2022. There were no changes in the recorded balance of goodwill during the years ended December 31, 2023, 2022 or 2021. ​ The Corporation had $1.41 million and $1.68 million of other intangible assets as of December 31, 2023 and 2022, respectively. Other intangible assets were recognized in connection with the core deposits acquired from Peoples Bankshares, Incorporated (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,
​ | ​ | ​ | 2023 | ​ | ​ | 2022
​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​
​ | ​ | ​ | Carrying | ​ | Accumulated | ​ | ​ | Carrying | ​ | Accumulated
(Dollars in thousands) | ​ | ​ | Amount | ​ | Amortization | ​ | ​ | Amount | ​ | Amortization
Amortizable intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Core deposit intangibles | ​ | $ | 1,711 | ​ | $ | (588) | ​ | $ | 1,711 | ​ | $ | (464)
Other amortizable intangibles | ​ |  | 1,405 | ​ | ​ | (1,121) | ​ | ​ | 1,405 | ​ | ​ | (973)
Total | ​ | $ | 3,116 | ​ | $ | (1,709) | ​ | $ | 3,116 | ​ | $ | (1,437)
​ Amortization expense was $272,000, $298,000 and $314,000 for the years ended December 31, 2023, 2022 and 2021, respectively. ​ Estimated future amortization expense by year as of December 31, 2023 is as follows: ​
​ | ​ | ​ | ​
(Dollars in thousands) |  |  | ​
2024 | ​ | $ | 260
2025 | ​ |  | 237
2026 | ​ |  | 101
2027 | ​ | ​ | 101
2028 | ​ | ​ | 101
Thereafter | ​ |  | 606
Total | ​ | $ | 1,407
​

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