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Goodwill and Core Deposit Intangible

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6. Goodwill and Core Deposit Intangible

Goodwill and core deposit intangible assets were as follows:

(In thousands)	December 31, 2021		December 31, 2020
Goodwill	$	21,440	$	10,729
Core deposit intangible		777		979

The Company recorded goodwill of $10.7 million during the third quarter of 2021 in connection with the acquisition of Integra. Please see Note 18. Integra Acquisition, to these consolidated financial statements for more information.

Core deposit intangible is amortized on a straight-line basis over the estimated lives of the deposits, which range from five to twelve years. The core deposit intangible amortization totaled $202,000 and $201,000 for the years ended December 31, 2021 and 2020, respectively.

The carrying basis and accumulated amortization of the core deposit intangible as of December 31, 2021 and 2020 were as follows:

(In thousands)	December 31, 2021			December 31, 2020
Gross carrying basis	$	1,708		$	1,708
Accumulated amortization		(931	)		(729	)
Net carrying amount	$	777		$	979

The estimated amortization expense of the core deposit intangible for each of the following five years is as follows:

(In thousands)
2022	$	208
2023		210
2024		210
2025		149
Total	$	777