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Core Deposits and Intangible Assets

6 Months Ended

Jun. 30, 2024

Core Deposits and Intangible Assets

Core Deposits and Intangible Assets

Note 9: Core Deposits and Intangible Assets

The following table shows the changes in the carrying amount of goodwill for June 30, 2024 and December 31, 2023 (in thousands):


		June 30,			December 31,
		2024			2023
Balance beginning of year		$	682		$	682
Additions from acquisition			—			—
Balance, end of period		$	682		$	682

Intangible assets in the consolidated balance sheets at June 30, 2024 and December 31, 2023 were as follows (in thousands):

Six Months Ended June 30, 2024

Year Ended December 31, 2023

Gross

Gross

Intangible

Accumulated

Net Intangible

Intangible

Accumulated

Net Intangible

Assets

Amortization

Assets

Assets

Amortization

Assets

Core deposit intangibles

$

1,041

844

197

1,041

781

260

The estimated aggregate future amortization expense remaining as of June 30, 2024 is as follows (in thousands):


2024		$	89
2025			108

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 June 30, 2024 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.