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Note 10 - Intangible Assets

9 Months Ended

Sep. 30, 2020

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