Goodwill and Intangibles
|9 Months Ended|
Sep. 30, 2020
|Goodwill And Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangibles||
NOTE 7. GOODWILL AND INTANGIBLES
Goodwill and other intangible assets are presented in the table below. As of September 30, 2020, we evaluated recent events to determine if a triggering event had occurred. Management determined that the economic disruption and uncertainty surrounding the COVID-19 pandemic does constitute a triggering event and a Step 1 Goodwill analysis was deemed necessary. The Step 1 analysis performed included utilizing the discounted cash flow and market approaches and based on our evaluation, we concluded that our goodwill was not more than likely impaired as of that date.
Amortization expense for core deposit intangibles for the three months ended September 30, 2020 and 2019 totaled $919 thousand and $1.0 million, respectively. Amortization expense for core deposit intangibles for the nine months ended September 30, 2020 and 2019 totaled $2.8 million and $2.6 million, respectively.
The estimated amount of amortization expense for core deposit intangibles to be recognized over the next five fiscal years is as follows:
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef