The Company acquired goodwill of $1.1 million in the acquisition of Peoples Bancorp, Inc. of Bullitt County and Peoples during 2015 in addition to acquiring goodwill of $5.4 million in the acquisition of Hometown Bancshares, Inc. (“Hometown”) during 2003. Goodwill is evaluated for impairment at least semi-annually or more frequently upon the occurrence of an event or when circumstances indicate that the carrying amount is greater than its fair value. No impairment of goodwill was recognized during 2025, 2024 or 2023.

The Company acquired a core deposit intangible of $1.4 million in the acquisition of Peoples and it became fully amortized in 2025. All of the Company’s previously acquired core deposit intangibles had been fully amortized prior to 2015. Core deposit intangible amortization expense totaled $86,000 for 2025 and $147,000 each year for 2024 and 2023.

Core deposit intangibles subject to amortization as of December 31, 2025 and 2024 consisted of the following:

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