v3.26.1
Note 5 - Goodwill and Other Intangibles
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Intangible Asset and Goodwill [Text Block]

5.

Goodwill and Other Intangibles

 

The Merger resulted in the recording of goodwill and a core deposit intangible (“CDI”). The following table presents the changes in both assets for the six-month periods ended June 30, 2026 and 2025:

 

(dollars in thousands)

  

Goodwill

    

CDI

    

Total

  
                         

Balance at December 31, 2025

   $ 6,978     $ 40     $ 7,018  

Amortization

     -       (4 )     (4 )

Balance at June 30, 2026

   $ 6,978     $ 36     $ 7,014  
                         
                         

Balance at December 31, 2024

   $ 6,978     $ 48     $ 7,026  

Amortization

     -       (4 )     (4 )

Balance at June 30, 2025

   $ 6,978     $ 44     $ 7,022  

 

The CDI is being amortized over 10 years on a straight-line basis. Annual amortization will be $8 thousand per year through year nine and $6 thousand in year 10. Because the Merger was a tax-free reorganization, neither the goodwill nor the CDI is deductible for income tax purposes. A goodwill impairment analysis is performed annually.