Goodwill and Core Deposit Intangible

6 Months Ended

Jun. 30, 2026

Goodwill and Core Deposit Intangible [Abstract]

NOTE 5 – Goodwill and Core Deposit Intangible

The following tables present the changes in the carrying amounts of goodwill and core deposit intangibles for the six months ended June 30, 2026 and 2025:

	June 30, 2026
	Core Deposit Intangible
	(In thousands)

Balance at the beginning of the period	$	1,460
Amortization		(152	)
Balance at the end of the period	$	1,308

	June 30, 2025
	Goodwill		Core Deposit Intangible
	(In thousands)
Balance at the beginning of the period	$	25,858	$	1,775
Amortization		-		(158	)
Balance at the end of the period	$	25,858	$	1,617

On October 15, 2025, the Company’s management, with oversight of the Audit Committee of the Board of Directors of the Company, concluded that, based on its annual impairment analysis, the Company’s goodwill was impaired in accordance with U.S. GAAP. Consequently, the Company recorded a non-cash $25.9 million goodwill impairment charge for the quarter ended September 30, 2025. The Company does not expect that this charge will result in future cash expenditures.

The carrying amount of the core deposit intangible consisted of the following (in thousands):

	June 30, 2026			December 31, 2025
	(In thousands)
Core deposit intangible acquired	$	3,329		$	3,329
Less: Accumulated amortization		(2,021	)		(1,869	)
	$	1,308		$	1,460

The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands):

	(In thousands)

Remainder of 2026	$	152
2027		291
2028		279
2029		267
2030		256
Thereafter		63
	$	1,308