The change in goodwill during the periods ended September 30, 2026 and December 31, 2025 is as follows:


(in thousands)	September 30, 2026		December 31, 2025
Balance at beginning of period	$	25,969	$	21,126
Acquired goodwill	—		—
Measurement period adjustment	—		4,843
Balance at end of period	$	25,969	$	25,969

At September 30, 2026, the Company’s reporting units include attributable goodwill from the IFH acquisition. The Company has elected to perform a qualitative assessment annually as of October 1 to determine if it is more likely than not that the fair value of the reporting unit exceeded its carrying value, including goodwill.


	September 30, 2026						December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Customer list intangible	$	12,200	$	(1,407)	$	10,793	$	12,200	$	(879)	$	11,321
Trade name intangible	2,100		(280)		1,820		2,100		(175)		1,925
Core deposits intangible	1,779		(403)		1,376		1,779		(254)		1,525
Total amortized intangible assets	$	16,079	$	(2,090)	$	13,989	$	16,079	$	(1,308)	$	14,771

Goodwill represents the intangible value of IFH’s business and reputation within the markets it previously served and is not expected to be deductible for income tax purposes. The customer list intangible and trade name intangible will be amortized over its expected useful life of 17 years and 15 years, respectively, using the straight-line method. The core deposit intangible will be amortized over its expected useful life of 10 years using the sum-of-the-years-digits method.

Amortization expense was $261 thousand for the three months ended September 30, 2026 and $782 thousand for the nine months ended September 30, 2026. There was $262 thousand of amortization expense for the three months ended September 30, 2025 and $784 thousand for the nine months ended September 30, 2025.

At September 30, 2026, scheduled amortization of the intangible assets for each of the next five years is as follows:


(in thousands)

2026	$	261
2027	1,038
2028	1,033
2029	1,026
2030	1,019
Thereafter	9,612
Total	$	13,989