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Goodwill

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 8 – GOODWILL

A summary of the activity in goodwill is presented below:

	Six Months Ended June 30,
($ in thousands)	2021		2020
Beginning balance	$	22,091	$	17,792
Acquired goodwill		-		4,325

Ending balance	$	22,091	$	22,117

Goodwill is not amortized but is evaluated for impairment annually, and on an interim basis if events or circumstances change that indicate an impairment may exist. When assessing goodwill for impairment, first, a qualitative assessment can be made to determine whether it is more likely than not that the estimated fair value of a reporting unit is less that its estimated carrying value. If the results of the qualitative assessment are not conclusive, a quantitative goodwill test is performed. Alternatively, a quantitative goodwill test can be performed without performing a qualitative assessment.

Goodwill was assessed for impairment using a quantitative test performed as of September 30, 2020 and reevaluated as of December 31, 2020. The Company again reviewed goodwill as of June 30, 2021 and the estimated fair value of the reporting unit exceeded the net carrying value, and therefore no goodwill impairment existed as of that date. No events or circumstances since the December 31, 2020 impairment test were noted that would indicate it was more likely than not a goodwill impairment exists.