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Goodwill | 12 Months Ended
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Dec. 31, 2020
Goodwill [Abstract] |
Goodwill | Note 10. Goodwill The Bank has $9.0 million of goodwill recorded on its balance sheet as the result of corporate acquisitions. Goodwill is not amortized, nor deductible for tax purposes. Goodwill was tested for impairment using a quantitative method as of August 31, 2020. Based upon this assessment, the estimated fair value of the Corporation exceeded its carrying value by 24% and Management determined the Bank’s goodwill was not impaired. The 2019 impairment test was conducted using a qualitative assessment method and Management determined the Bank’s goodwill was no t impaired in 2019. At December 31, 2020, Management subsequently considered certain qualitative factors affecting the Corporation and determined that it was not likely that the results of the prior test had changed, and it determined that goodwill was not impaired at year-end.

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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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