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Note 7 - Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2018
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
7. | GOODWILL AND OTHER INTANGIBLE ASSETS
The Company recorded $7.6 million of goodwill as a result of its acquisition of TPB in 2018. Goodwill impairment was neither indicated nor recorded during the three months ended September 30, 2018. Goodwill is tested annually, or more often if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the consolidated financial statements. Goodwill totaled $7.6 million as of September 30, 2018. Core deposit premiums are amortized over a seven -year period and are periodically evaluated, at least annually, as to the recoverability of their carrying value. Core deposit premiums of $2.0 were recorded during the third quarter of 2018 as part of the TPB acquisition. The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) as of September 30, 2018 were as follows:
|  | September 30, 2018 |
|  | (Dollars in Thousands) |
Goodwill |  | $ | 7,552 |
Core deposit intangible: |  |  |  |
Gross carrying amount |  |  | 2,048 |
Accumulated amortization |  |  | (43 | )
Core deposit intangible, net |  |  | 2,005 |
Total |  | $ | 9,557 |
The Company’s estimated remaining amortization expense on intangibles as of September 30, 2018 is as follows:
|  | Amortization Expense |
|  | (Dollars in Thousands) |
Remainder of 2018 |  | $ | 128 |
2019 |  |  | 488 |
2020 |  |  | 414 |
2021 |  |  | 341 |
2022 |  |  | 268 |
2023 |  |  | 195 |
2024 |  |  | 122 |
2025 |  |  | 49 |
Total |  | $ | 2,005 |

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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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