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Goodwill | 6 Months Ended
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Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL | NOTE 8 – GOODWILL Goodwill is recorded on the acquisition date of an entity. During the measurement period, the Company may record subsequent adjustments to goodwill for provisional amounts recorded at the acquisition date. The acquisition of The Edon State Bank Company of Edon, Ohio, on June 5, 2020 and the purchase of an Ohio- based Title agency through a newly-formed, wholly-owned subsidiary, SBFG Title, LLC, on March 15, 2019 resulted in approximately $4.3 million and $1.4 million respectively, in goodwill. Due to the impact of COVID-19 on the economy and the banking industry, the Company evaluated goodwill as of June 30,2020. This evaluation determined that no triggering event had occurred since the last goodwill impairment test was conducted. A summary of the activity in goodwill is presented below:
|  | Six Months Ended |
|  | June 30, 2020 |  |  | June 30, 2019 |
($ in thousands) |  | Carrying Amount |  |  | Carrying Amount |
Beginning balance |  | $ | 17,792 |  |  | $ | 16,353 |
Acquired goodwill |  |  | 4,325 |  |  |  | 1,439 |
Ending balance |  | $ | 22,117 |  |  | $ | 17,792 |
Goodwill is not amortized but is evaluated for impairment annually, and on an interim basis if events or changes in circumstances indicate that goodwill might be impaired. Impairment exists when the carrying value of goodwill exceeds its fair value.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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