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Note 10 - Intangible Assets | 9 Months Ended
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Sep. 30, 2020
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
10. | Intangible assets
In conjunction with the acquisition of ISSB in 2019, the Company recorded $1.9 million in core deposit intangible assets. The following sets forth the carrying amounts and accumulated amortization of the intangible assets at September 30, 2020 and December 31, 2019 (in thousands):
|  | 2020 |  |  | 2019 |
|  | Gross |  |  | Accumulated |  |  | Gross |  |  | Accumulated |
|  | Amount |  |  | Amortization |  |  | Amount |  |  | Amortization |
Core deposit intangible asset |  | $ | 6,411 |  |  | $ | 3,336 |  |  | $ | 6,411 |  |  | $ | 2,745 |
Customer list |  |  | 535 |  |  |  | 301 |  |  |  | 535 |  |  |  | 242 |
Total |  | $ | 6,946 |  |  | $ | 3,637 |  |  | $ | 6,946 |  |  | $ | 2,987 |
The weighted average life of the intangible assets is 3.7 years as of September 30, 2020 and 4.2 years as of December 31, 2019. The following sets forth the activity related to the intangible assets for the three and nine months ended September 30, 2020 and 2019 (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Beginning intangible assets, net |  | $ | 3,525 |  |  | $ | 2,375 |  |  | $ | 3,959 |  |  | $ | 2,678 |
Amortization |  |  | (216 | ) |  |  | (124 | ) |  |  | (650 | ) |  |  | (427 | )
Ending intangible assets, net |  | $ | 3,309 |  |  | $ | 2,251 |  |  | $ | 3,309 |  |  | $ | 2,251 |
Estimated remaining amortization expense on intangible assets for the years ending December 31 is as follows (in thousands):
2020 |  | $ | 176 |
2021 |  |  | 628 |
2022 |  |  | 574 |
2023 |  |  | 502 |
2024 |  |  | 337 |
2025 |  |  | 301 |
After |  |  | 791 |
Total |  | $ | 3,309 |

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- Definition The entire disclosure for all or part of the information related to 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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