v3.26.1
GOODWILL AND OTHER INTANGIBLES
 6 Months Ended
Jun. 30, 2026
GOODWILL AND OTHER INTANGIBLES  
GOODWILL AND OTHER INTANGIBLES

NOTE 11 – GOODWILL AND OTHER INTANGIBLES

The activity impacting goodwill as of June 30, 2026 and December 31, 2025 is as follows:

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June 30,

  ​ ​ ​

December 31,

(in thousands)

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2026

​

2025

Balance at beginning of period

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$

1,595

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$

1,595

Acquisition (1)

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451

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—

Balance at end of period

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$

2,046

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$

1,595

(1)

In the second quarter 2026, the Company completed its acquisition of NBC and recorded $451 thousand in goodwill. Refer to Note 2 for further details.

The components of other intangible assets as of June 30, 2026 are as follows (there were no other intangible assets as of December 31, 2025):

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Gross

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Net

June 30, 2026

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Intangible

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Accumulated

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Intangible

(in thousands)

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Assets

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Amortization

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Assets

Core deposit intangible (non-maturity deposits) (1)

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$

7,098

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$

(323)

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$

6,775

Total

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$

7,098

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$

(323)

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$

6,775

(1)

In the second quarter of 2026, the Company completed its acquisition of NBC and recorded $7.1 million in CDI assets that will amortize over a ten-year period.

The core deposit intangible asset is amortized over an expected life of 10 years using sum of the year’s digits method for amortization expense. Amortization expenses related to intangibles for both the three and six months ended June 30, 2026 and 2025 were $323 thousand and $0, respectively

The estimated aggregate future amortization expense for other intangible assets remaining at June 30, 2026 is as follows:

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Other

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Intangible

(in thousands)

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Assets

2026

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$

645

2027

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1,194

2028

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1,065

2029

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936

2030

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807

2031 and thereafter

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2,128

Total

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$

6,775

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