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Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

6. Goodwill and Other Intangible Assets


 

The Company tests goodwill for impairment annually or more frequently if circumstances warrant. The Company’s annual impairment test as of December 31, 2022 concluded that its goodwill was not impaired. The Company concluded there were no triggering events during the first six months of 2023 that required an interim goodwill impairment test.

 

 

Core deposit intangible assets are amortized over the estimated useful life of ten years on an accelerated basis. A summary of the other intangible assets that continue to be subject to amortization was as follows:

 

(Dollars in thousands)  As of June 30, 2023 
   Gross carrying amount   Accumulated amortization   Net carrying amount 
Core deposit intangible assets  $5,880   $(2,268)  $3,612 

 

(Dollars in thousands)  As of December 31, 2022 
   Gross carrying amount   Accumulated amortization   Net carrying amount 
Core deposit intangible assets  $5,880   $(1,874)  $4,006 

 

The following sets forth estimated amortization expense for core deposit and intangible assets for the remainder of 2023 and in successive years ending December 31:

(Dollars in thousands)  Amortization 
   expense 
Remainder of 2023  $371 
2024   663 
2025   588 
2026   512 
2027   436 
2028   360 
Thereafter            682 
Total  $3,612