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Core Deposits and Intangible Assets

9 Months Ended

Sep. 30, 2023

Note 9: Core Deposits and Intangible Assets

The following table shows the changes in the carrying amount of goodwill for September 30, 2023 and December 31, 2022 (in thousands):


	September 30,		December 31,
	2023		2022
Balance beginning of year	$	682	$	682
Additions from acquisition		—		—
Balance, end of period	$	682	$	682

Intangible assets in the consolidated balance sheets at September 30, 2023 and December 31, 2022 were as follows (in thousands):

Nine Months Ended September 30, 2023

Year Ended December 31, 2022

Gross

Intangible

Accumulated

Net Intangible

Intangible

Accumulated

Net Intangible

Assets

Amortization

Assets

Amortization

Assets

Core deposit intangibles

1,041

744

297

1,041

631

410

The estimated aggregate future amortization expense remaining as of September 30, 2023 is as follows (in thousands):


2023	$	38
2024		150
2025		109

At each reporting date between annual goodwill impairment tests, the Company considers potential indicators of impairment. At the conclusion of the assessment, the Company determined that as of September 30, 2023 it was more likely than not that the fair value exceeded its carrying values. The Company will continue to monitor the overall economic conditions and any other triggering events or circumstances that may indicate an impairment of goodwill in the future.