v3.25.4
Goodwill and Core Deposit Intangible
 3 Months Ended
Mar. 31, 2025
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 three months ended March 31, 2025 and 2024:


      March 31, 2025  
    Goodwill
    
Core Deposit
Intangible
  
    (In thousands)
  
Balance at the beginning of the period
  
$
25,858
    
$
1,775
  
Additions
     –      
–
  
Amortization
     –      
(79
)
Balance at the end of the period
   $ 25,858    
$
1,696
  

    March 31, 2024  
    Goodwill
    
Core Deposit
Intangible
  
    (In thousands)
  
Balance at the beginning of the period
  
$
25,858
    
$
2,111
  
Additions
     –      
–
  
Amortization
     –      
(84
)
Balance at the end of the period
   $ 25,858    
$
2,027
  


The carrying amount of the core deposit intangible consisted of the following (in thousands):

 
March 31,
2025
    
December 31,
2024
  
Core deposit intangible acquired
  
$
3,329
     $ 3,329  
Less: Accumulated amortization     (1,633 )     (1,554 )

 
$
1,696
     $ 1,775  


The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands):


Remainder of 2025
  
$
236
  
2026
    
304
  
2027
    
291
  
2028
    
279
  
2029
    
267
  
Thereafter
    
319
  
   
$
1,696