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Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

4. 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, 2024 concluded that its goodwill was not impaired. Based on that test and current conditions, as of March 31, 2025, the Company concluded it was more likely than not that its goodwill was not impaired.

 

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 as of the dates indicated is presented in the following tables:

  

(Dollars in thousands)  As of March 31, 2025 
   Gross carrying amount   Accumulated amortization   Net carrying amount 
Core deposit intangible assets  $4,170   $(1,744)  $2,426 

 

(Dollars in thousands)  As of December 31, 2024 
   Gross carrying amount   Accumulated amortization   Net carrying amount 
Core deposit intangible assets  $4,170   $(1,592)  $2,578 

 

 

The following table sets forth estimated amortization expense for core deposit and intangible assets for the remainder of 2025 and in successive years ending December 31:

  

(Dollars in thousands)  Amortization 
   expense 
Remainder of 2025  $436 
2026   512 
2027   436 
2028   360 
2029   284 
2030   208 
Thereafter   190 
Total  $2,426