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Goodwill and Core Deposit Intangible | 6 Months Ended
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Jun. 30, 2023
Goodwill and Core Deposit Intangible [Abstract] |
Goodwill and Core Deposit Intangible | NOTE 5 – Goodwill and Core Deposit Intangible The Company recognized goodwill of $25.9 million and a core deposit intangible of $2.3 million. An assessment of goodwill impairment was performed as of December 31, 2022, in which no impairment was determined. The following table presents the changes in the carrying amounts of goodwill and core deposit intangibles for the six months ended June 30, 2023:
|  | Goodwill |  |  | Core Deposit Intangible |
|  | (In thousands) |
Balance at the beginning of the period |  | $ | 25,858 |  |  | $ | 2,501 |
Additions |  |  | – |  |  |  | – |
Change in deferred tax estimate |  |  | – |  |  |  | – |
Amortization |  |  | – |  |  |  | (195 | )
Balance at the end of the period |  | $ | 25,858 |  |  | $ | 2,306 |
The carrying amount of the core deposit intangible consisted of the following at June 30, 2023 (in thousands):
Core deposit intangible acquired |  | $ | 3,329 |
Less: accumulated amortization |  |  | (1,023 | )
|  | $ | 2,306 |
The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands):
2023 |  | $ | 195 |
2024 |  |  | 336 |
2025 |  |  | 315 |
2026 |  |  | 304 |
2027 |  |  | 291 |
Thereafter |  |  | 865 |
|  | $ | 2,306 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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