Note 11 - Acquisition |
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| Business Combination [Text Block] |
Note 11. Acquisition
Fair Value Premiums and Discounts
The net effect of the amortization and accretion of premiums and discounts associated with the Company’s acquisition accounting adjustments, which includes previous acquisitions in addition to Touchstone Bankshares, Inc. (Touchstone), had the following impact on the Consolidated Statements of Income for the six months ended June 30, 2026 and 2025, as follows (in thousands):
(1) Loan acquisition-related fair value adjustments accretion (amortization) is included in "Interest and fees on loans" in the "Interest and dividend income" section of the Company’s Consolidated Statements of Income.
(2) Core deposit and other intangible premium (amortization) is included in "Amortization expense" in the "Noninterest expense" section of the Company’s Consolidated Statements of Income.
(3) Borrowings acquisition-related fair value adjustments accretion (amortization) is included in "Interest on subordinated debt" in the "Interest Expense" section of the Company’s Consolidated Statements of Income.
(4) Certificate of deposit acquisition-related fair value adjustments accretion (amortization) is included in "Interest on deposits" in the "Interest expense" section of the Company’s Consolidated Statements of Income.
Other Intangible Assets
Other intangible assets consist of the core deposit intangible which is being amortized on an accelerated basis over its estimated useful life of 7 years. The gross carrying amounts and accumulated amortization of other intangible assets, which includes previous acquisitions in addition to Touchstone for the three and six months ended June 30, 2026 and 2025, were as follows (in thousands):
The Company reviews other intangible assets for possible impairment whenever events or changes in circumstances indicate that the carry amounts may not be recoverable.
Estimated amortization expense for future years is as follows (in thousands):
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