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Note 7 - Intangible Assets

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note 7. Intangible Assets

The following sets forth the carrying amounts and accumulated amortization of all intangible assets as of December 31, 2023 and 2022 (in thousands):

		2023								2022
		Gross				Accumulated				Gross				Accumulated
		Amount				Amortization				Amount				Amortization

Core deposit intangible asset		$	6,411			$	4,982			$	6,411			$	4,539
Customer list			535				535				535				476
Total		$	6,946			$	5,517			$	6,946			$	5,015

The weighted average life of the intangible assets is approximately 2 years and 3 years as of December 31, 2023 and 2022, respectively.

The amortization expense for the intangible assets totaled $502 thousand and $574 thousand for the years ended December 31, 2023 and 2022, respectively. Estimated remaining amortization expense on intangible assets is as follows for the years ending December 31 (in thousands):

2024			337
2025			301
2026			268
2027			240
2028			190
After			93

Total		$	1,429

The following sets forth the activity related to intangible assets for the years ended December 31, 2023 and 2022 (in thousands):

		2023				2022

Beginning intangibles, net		$	1,931			$	2,505
Amortization			(502	)			(574	)

Ending intangible asset, net		$	1,429			$	1,931