v3.26.1
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Intangible Assets

(7) Goodwill and Intangible Assets

The carrying amount of goodwill was $130,438 at both June 30, 2026 and December 31, 2025.

Acquired intangible assets, other than goodwill, as of June 30, 2026 and December 31, 2025 were as follows:

 

 

 

June 30, 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

 

 

$

10,618

 

 

$

9,025

 

 

 

19,643

 

 

 

9,226

 

 

$

10,417

 

Total core deposit intangible assets

 

$

19,643

 

 

$

10,618

 

 

$

9,025

 

 

$

19,643

 

 

$

9,226

 

 

$

10,417

 

 

Aggregate core deposit intangible amortization expense was $696 and $338 for the three months ended June 30, 2026 and 2025, respectively. Aggregate core deposit intangible amortization expense was $1,392 and $670 for the six months ended June 30, 2026 and 2025, respectively.

 

Activity for mortgage servicing rights ("MSRs") for the three and six months ended June 30, 2026 and June 30, 2025 was as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Mortgage Servicing Rights:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

2,615

 

 

$

2,832

 

 

$

2,683

 

 

$

2,877

 

Additions

 

 

41

 

 

 

24

 

 

 

54

 

 

 

48

 

Additions from acquisition

 

 

 

 

 

 

 

 

 

 

 

 

Disposals

 

 

 

 

 

 

 

 

 

 

 

 

Amortized to expense

 

 

(102

)

 

 

(81

)

 

 

(183

)

 

 

(150

)

Other charges

 

 

 

 

 

 

 

 

 

 

 

 

Change in valuation allowance

 

 

 

 

 

 

 

 

 

 

 

 

Balance at End of Period

 

$

2,554

 

 

$

2,775

 

 

$

2,554

 

 

$

2,775

 

 

 

There was no valuation allowance for the three and- six months ended June 30, 2026 and June 30, 2025.

 

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

 

 

 

MSRs

 

 

Core deposit
intangibles

 

 

Total

 

2026(1)

 

$

76

 

 

$

1,319

 

 

$

1,395

 

2027

 

 

150

 

 

 

2,395

 

 

 

2,545

 

2028

 

 

145

 

 

 

1,923

 

 

 

2,068

 

2029

 

 

144

 

 

 

1,218

 

 

 

1,362

 

2030

 

 

142

 

 

 

944

 

 

 

1,086

 

Thereafter

 

 

1,897

 

 

 

1,226

 

 

 

3,123

 

 

$

2,554

 

 

$

9,025

 

 

$

11,579

 

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