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Goodwill and Core Deposit Intangible | 9 Months Ended
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Sep. 30, 2024
Goodwill and Core Deposit Intangible [Abstract] |
Goodwill and Core Deposit Intangible | NOTE 5 – Goodwill and Core Deposit Intangible The following tables present the changes in the carrying amounts of goodwill and core deposit intangibles for the nine months ended September 30, 2024 and 2023:
|  | September 30, 2024 |
|  | Goodwill |  |  | Core Deposit Intangible |
|  | (In thousands) |
Balance at the beginning of the period |  | $ | 25,858 |  |  | $ | 2,111 |
Additions |  |  | – |  |  |  | – |
Change in deferred tax estimate |  |  | – |  |  |  | – |
Amortization |  |  | – |  |  |  | (252 | )
Balance at the end of the period |  | $ | 25,858 |  |  | $ | 1,859 |
|  | September 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 |  |  | – |  |  |  | (293 | )
Balance at the end of the period |  | $ | 25,858 |  |  | $ | 2,208 |
The carrying amount of the core deposit intangible consisted of the following (in thousands):
|  |  | September 30, 2024 |  |  |  | December 31, 2023 |
Core deposit intangible acquired |  | $ | 3,329 |  |  | $ | 3,329 |
Less: Accumulated amortization |  |  | (1,470 | ) |  |  | (1,218 | )
|  | $ | 1,859 |  |  | $ | 2,111 |
The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands):
Remainder of 2024 |  | $ | 84 |
2025 |  |  | 315 |
2026 |  |  | 304 |
2027 |  |  | 291 |
2028 |  |  | 279 |
Thereafter |  |  | 586 |
|  | $ | 1,859 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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