v3.25.2
Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2025
Goodwill and Other Intangible Assets [Abstract]  
Gross Carrying Value and Accumulated Amortization of Intangible Assets

The following table provides the gross carrying value and accumulated amortization of intangible assets as of June 30, 2025 and December 31, 2024 (in thousands):

 
June 30, 2025
   
December 31, 2024
 
   
Gross
carrying
value
   
Accumulated
amortization
   
Net
carrying
value
   
Gross
carrying
value
   
Accumulated
amortization
   
Net
carrying
value
 
Amortized intangible assets (1):
                                   
MSRs
 
$
2,482
   
$
(1,829
)
 
$
653
   
$
2,478
   
$
(1,717
)
 
$
761
 
Core deposit intangibles
   
4,713
     
(2,836
)
   
1,877
     
4,713
     
(2,582
)
   
2,131
 
Total amortized intangible assets
 
$
7,195
   
$
(4,665
)
 
$
2,530
   
$
7,191
   
$
(4,299
)
 
$
2,892
 
Unamortized intangible assets:
                                               
Goodwill
 
$
85,758
                   
$
85,758
                 

(1) Excludes fully amortized intangible assets
Future Amortization Expense for Amortized Intangible Assets

The following table provides the current year and estimated future amortization expense for amortized intangible assets for the next five years (in thousands). The Company based its projections of amortization expense shown below on existing asset balances at June 30, 2025. Future amortization expense may vary from these projections:

 
MSRs
   
Core deposit intangibles
   
Total
 
Three months ended June 30, 2025 (actual)
 
$
64
   
$
127
   
$
191
 
Six months ended June 30, 2025 (actual)
   
134
     
254
     
388
 
Three months ended June 30, 2024 (actual)
   
74
     
147
     
221
 
Six months ended June 30, 2024 (actual)
   
154
     
296
     
450
 
Estimate for year ending December 31,
                       
Remaining 2025
   
119
     
225
     
344
 
2026
   
198
     
395
     
593
 
2027
   
143
     
339
     
482
 
2028
   
96
     
284
     
380
 
2029
   
59
     
230
     
289
 
Thereafter
   
38
     
404
     
442
 
Total
  $ 653    
$
1,877
    $ 2,530