XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Goodwill and Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2022
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets | NOTE (6) – Goodwill and Intangible Assets In connection with the CFBanc Merger (see Note 2 – Business Combination), the Company recognized goodwill of $26.0 million and a core deposit intangible of $3.3 million. An assessment of goodwill impairment was performed as of June 30, 2022, in which no impairment was determined. The following table presents the changes in the carrying amounts of goodwill for the three- and nine-month period ended September 30, 2022:
|  | Goodwill |  |  | Core Deposit Intangible |
|  | (In thousands) |
Balance at the beginning of the period |  | $ | 25,996 |  |  | $ | 2,936 |
Additions |  |  | – |  |  |  | – |
Change in deferred tax estimate |  |  | (138 | ) |  |  | – |
Amortization |  |  | – |  |  |  | (326 | )
Balance at the end of the period |  | $ | 25,858 |  |  | $ | 2,610 |
The carrying amount of the core deposit intangible consisted of the following at September 30, 2022 (in thousands):
Core deposit intangible acquired |  | $ | 3,329 |
Less: accumulated amortization |  |  | (719 | )
|  | $ | 2,610 |
The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands):
2022 |  | $ | 110 |
2023 |  |  | 390 |
2024 |  |  | 336 |
2025 |  |  | 315 |
2026 |  |  | 304 |
Thereafter |  |  | 1,155 |
|  | $ | 2,610 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration