GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2025

GOODWILL AND OTHER INTANGIBLE ASSETS

8. GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in goodwill were as follows (dollars in thousands):


Balance, July 1, 2024		10,879
Acquired		—
Balance, December 31, 2024		10,879
Acquired		720
Impairment Charge		(2,000)
Balance, December 31, 2025	$	9,599

During the year ended December 31, 2025 a $2.0 million impairment charge was recognized for goodwill related to Pioneer Insurance Agency based on the annual impairment testing performed during the three months ended

December 31, 2025. The fair value of the reporting unit was estimated using the expected present value of future cash flows.

There were no impairment charges on goodwill or intangible assets for the six months ended December 31, 2024 and 2023 and for the fiscal years ended June 30, 2024.

Acquired other intangible assets were as follows (dollars in thousands):


	December 31,
	2025		2024
Customer relationship intangibles:
Gross carrying amount	$	5,523	$	5,042
Less: accumulated amortization		(2,899)		(2,455)
Net carrying amount		2,624		2,587
Weighted average remaining useful life (in years)		3.98		4.02

Core deposit intangibles:
Gross carrying amount		562		562
Less: accumulated amortization		(475)		(444)
Net carrying amount		87		118
Weighted average remaining useful life (in years)		2.06		2.39

Total other intangible assets:
Gross carrying amount		6,085		5,604
Less: accumulated amortization		(3,374)		(2,899)
Net carrying amount	$	2,711	$	2,705

Estimated amortization expense for the next five years is as follows (dollars in thousands):


Year ending December 31,
2026	$	477
2027		426
2028		375
2029		325
2030		274

Aggregate amortization expense was $474,000 for the year ended December 31, 2025, $246,000 and $270,000 for the six months ended December 31, 2024 and 2023, respectively, and $534,000 for the fiscal year ended June 30, 2024, respectively.