v3.26.1
Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

(7) Goodwill and Intangible Assets

The carrying amount of goodwill was $130,438 at both March 31, 2026 and December 31, 2025.

Acquired intangible assets, other than goodwill, as of March 31, 2026 and December 31, 2025 were as follows:

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Core deposit intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core deposit intangibles

 

$

19,643

 

 

$

9,922

 

 

$

9,721

 

 

 

19,643

 

 

 

9,226

 

 

$

10,417

 

Total core deposit intangible assets

 

$

19,643

 

 

$

9,922

 

 

$

9,721

 

 

$

19,643

 

 

$

9,226

 

 

$

10,417

 

 

Aggregate core deposit intangible amortization expense was $696 and $332 for the three months ended March 31, 2026 and 2025, respectively.

 

Activity for mortgage servicing rights ("MSRs") for the three months ended March 31, 2026 and March 31, 2025 was as follows:

 

 

 

Three Months Ended March 31,

 

 

 

 

2026

 

 

2025

 

 

Mortgage Servicing Rights:

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

2,683

 

 

$

2,877

 

 

Additions

 

 

13

 

 

 

24

 

 

Additions from acquisition

 

 

 

 

 

 

 

Disposals

 

 

 

 

 

 

 

Amortized to expense

 

 

(81

)

 

 

(69

)

 

Other charges

 

 

 

 

 

 

 

Change in valuation allowance

 

 

 

 

 

 

 

Balance at End of Period

 

$

2,615

 

 

$

2,832

 

 

 

 

There was no valuation allowance for the three months ended March 31, 2026 and March 31, 2025.

 

Estimated amortization expense for each of the next five years and thereafter is as follows:

 

 

 

MSRs

 

 

Core deposit
intangibles

 

 

Total

 

2026(1)

 

$

115

 

 

$

2,015

 

 

$

2,130

 

2027

 

 

152

 

 

 

2,395

 

 

 

2,547

 

2028

 

 

147

 

 

 

1,923

 

 

 

2,070

 

2029

 

 

145

 

 

 

1,218

 

 

 

1,363

 

2030

 

 

144

 

 

 

944

 

 

 

1,088

 

Thereafter

 

 

1,912

 

 

 

1,226

 

 

 

3,138

 

 

$

2,615

 

 

$

9,721

 

 

$

12,336

 

(1) 2026 includes nine months of amortization expense for the period from April 1, 2026 through December 31, 2026.