Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles

v3.8.0.1
Goodwill and Intangibles
3 Months Ended
Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles

NOTE 5. GOODWILL AND INTANGIBLES

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

 

 

 

March 31,

2018

 

 

December 31,

2017

 

 

 

(Dollars in thousands)

 

Goodwill

 

$

4,485

 

 

$

4,485

 

Core deposit intangible

 

 

7,179

 

 

 

7,179

 

Total

 

 

11,664

 

 

 

11,664

 

Less: Accumulated amortization

 

 

(3,868

)

 

 

(3,693

)

Total, net

 

$

7,796

 

 

$

7,971

 

 

Amortization expense for core deposit intangibles for the three months ended March 31, 2018 and 2017 totaled $176 thousand each.

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

 

Remainder of 2018

 

 

2019

 

 

2020

 

 

2021

 

 

2022

 

 

2023

 

 

 

(Dollars in thousands)

 

Core deposit intangible

 

$

527

 

 

$

703

 

 

$

703

 

 

$

607

 

 

$

371

 

 

$

239