Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles

v3.21.1
Goodwill and Intangibles
3 Months Ended
Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles

NOTE 6. GOODWILL AND INTANGIBLES

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

 

 

 

Three Months

Ended March 31,

2021

 

 

Year Ended

December 31,

2020

 

 

 

(Dollars in thousands)

 

Beginning goodwill

 

$

77,681

 

 

$

68,503

 

Arising from business combination

 

 

 

 

 

11,456

 

Measurement Period Adjustments

 

 

 

 

 

(2,278

)

Ending goodwill

 

$

77,681

 

 

$

77,681

 

 

 

 

 

 

 

 

 

 

Core deposit intangible

 

 

19,722

 

 

 

19,722

 

Arising from business combination

 

 

 

 

 

 

Less: Accumulated amortization

 

 

(12,727

)

 

 

(11,904

)

Core deposit intangible, net

 

$

6,995

 

 

$

7,818

 

 

Amortization expense for core deposit intangibles for the three months ended March 31, 2021 and 2020 totaled $823 thousand and $946 thousand, respectively.    

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

 

Type of intangibles

 

Remainder of 2021

 

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

 

(Dollars in thousands)

 

Core deposit intangible

 

$

2,271

 

 

$

2,212

 

 

$

1,495

 

 

$

744

 

 

$

200

 

 

$

73