Annual report [Section 13 and 15(d), not S-K Item 405]

Goodwill and Other Intangible Assets

v3.26.1
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
(Dollars in thousands) 2025 2024
Goodwill balance January 1, $ 22,395  $ 22,395 
Goodwill balance December 31, $ 22,395  $ 22,395 
Goodwill arising from business combinations represents the value attributable to unidentifiable intangible assets in the business acquired. The Company’s goodwill relates to the value inherent in the banking industry and that value is dependent upon the ability of the Company to provide quality, cost effective banking services in a competitive
marketplace. Goodwill is tested periodically for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. There has not been any impairment of goodwill identified or recorded.
In addition to goodwill, a core deposit intangible was established from previous acquisitions. The Company had core deposit intangible balances of $1.2 million and $1.9 million as of December 31, 2025, and December 31, 2024, respectively. The table below summarizes the intangibles amortization:
The amortization recorded for the year ended December 31, is as follows:
(Dollars in thousands) Total
2024 $ 1,411 
2025 $ 688 
Amortization to be recorded in future periods, is as follows:
(Dollars in thousands) Total
2026 361 
2027 294 
2028 228 
2029 162 
Thereafter 127 
Total $ 1,172