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Goodwill and Intangibles

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Note 8: Goodwill and Intangibles

On March 15, 2019, the Company purchased all of the assets of a title agency through a newly-formed, wholly-owned subsidiary, SBFG Title, LLC. This acquisition resulted in approximately $1.4 million in goodwill. The balance of goodwill as of December 31, 2019 was $17.8 million and at December 31, 2018, $16.4 million, respectively.

Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. Goodwill is tested on the last day of the last quarter of each calendar year. At December 31, 2019, the Company’s reporting unit had positive equity and the Company elected to perform a qualitative assessment to determine if it was more likely than not that the fair value of the reporting unit exceeded its carrying value, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment.

Carrying basis and accumulated amortization of intangible assets were as follows at December 31:

	2019					2018
($ in thousands)	Gross Carrying		Accumulated			Gross Carrying		Accumulated
	Amount		Amortization			Amount		Amortization
Core deposits intangible	$	4,698	$	(4,692	)	$	4,698	$	(4,688	)
Customer relationship intangible		200		(166	)		200		(162	)
Banking intangibles	$	4,898	$	(4,858	)	$	4,898	$	(4,850	)

Amortization expense for intangibles for the years ended December 31, 2019 and 2018 was $0.01 and $0.01 million, respectively. Estimated amortization expense for each of the following five years is immaterial.