Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangibles (Tables)

v3.20.4
Goodwill and Intangibles (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Other Intangible Assets

Goodwill and other intangible assets, which consist of core deposit intangibles, are summarized as follows:

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

(Dollars in thousands)

 

Beginning goodwill

 

$

68,503

 

 

$

18,253

 

Measurement period adjustments

 

$

(2,278

)

 

 

 

 

Arising from business combinations

 

 

11,456

 

 

 

50,250

 

Ending goodwill

 

$

77,681

 

 

$

68,503

 

 

 

 

 

 

 

 

 

 

Core deposit intangible

 

$

19,722

 

 

$

19,712

 

Less: Accumulated amortization

 

 

(11,904

)

 

 

(8,240

)

Core deposit intangible, net

 

$

7,818

 

 

$

11,472

 

Schedule of Estimated Amortization Expense for Intangible Assets

The estimated amount of amortization expense for core deposit intangible assets to be recognized over the next five fiscal years is as follows:

 

Type of intangibles

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

 

(Dollars in thousands)

 

Core deposit intangible

 

$

3,028

 

 

$

2,212

 

 

$

1,500

 

 

$

744

 

 

 

200