Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangibles

v3.22.0.1
Goodwill and Intangibles
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles

NOTE 8. GOODWILL AND INTANGIBLES

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

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

(Dollars in thousands)

 

Beginning goodwill

 

$

77,681

 

 

$

68,503

 

Measurement period adjustments

 

 

-

 

 

 

(2,278

)

Arising from business combinations

 

 

-

 

 

 

11,456

 

Ending goodwill

 

$

77,681

 

 

$

77,681

 

 

 

 

 

 

 

 

 

 

Core deposit intangible

 

$

19,722

 

 

$

19,722

 

Less: Accumulated amortization

 

 

(14,971

)

 

 

(11,904

)

Core deposit intangible, net

 

$

4,751

 

 

$

7,818

 

Amortization expense for core deposit intangibles for the years ended December 31, 2021, 2020 and 2019 totalled $3.1 million, $3.7 million and $3.6 million, respectively.

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

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

 

(Dollars in thousands)

 

Core deposit intangible

 

$

2,212

 

 

$

1,499

 

 

$

745

 

 

$

200

 

 

 

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