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Note 5 - Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 5 – Goodwill and Other Intangible Assets At year end, goodwill and other intangible assets are summarized as follows:
(Dollars in thousands) |  | 2024 |  |  | 2023 |
Goodwill balance January 1, |  | $ | 22,395 |  |  | $ | 22,395 |
Goodwill balance December 31, |  | $ | 22,395 |  |  | $ | 22,395 |
Goodwill arising from business combinations represents the value attributable to unidentifiable intangible assets in the business acquired. The Company’s goodwill relates to the value inherent in the banking industry and that value is dependent upon the ability of the Company to provide quality, cost effective banking services in a competitive marketplace. Goodwill is tested periodically for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. There has not been any impairment of goodwill identified or recorded. In addition to goodwill, a core deposit intangible was established from previous acquisitions. The Company had core deposit intangible balances of $1.9 million and $3.3 million as of December 31, 2024, and 2023, respectively. The table below summarizes the annual amortization: The amortization recorded for the nine months ended December 31, is as follows:
(Dollars in thousands) |  | Total |
2023 |  | $ | 1,522 |
2024 |  | $ | 1,411 |
Amortization to be recorded in future periods, is as follows:
(Dollars in thousands) |  | Total |
2025 |  |  | 688 |
2026 |  |  | 360 |
2027 |  |  | 294 |
2028 |  |  | 228 |
2029 |  |  | 162 |
Thereafter |  |  | 128 |
Total |  | $ | 1,860 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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