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Goodwill

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5 – GOODWILL

A summary of the activity in goodwill is presented below:

	Three Months Ended March 31,
($ in thousands)	2023		2022
Beginning balance	$	23,239	$	23,191
Measurement period adjustments		-		48
Ending balance	$	23,239	$	23,239

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.

As of March 31, 2023 and December 31, 2022, the carrying amount of goodwill was $23.2 million. Goodwill is assessed for impairment annually as of December 31, or more frequently if events occur 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 than 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 evaluated for impairment using a qualitative assessment performed as of December 31, 2022. The results of the assessment indicated no goodwill impairment existed as of that date.