Hanmi Financial Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangibles (Tables)

Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Goodwill and Other Intangible Assets

The Company's intangible assets were as follows for the periods indicated:

		December 31, 2020							December 31, 2019
	Amortization Period	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
		(in thousands)
Core deposit intangible	10 years	$	2,213	$	(1,746	)	$	467	$	2,213	$	(1,567	)	$	646
Third-party originators intangible	7 years		483		(369	)		114		483		(287	)		196
Goodwill	N/A		11,031		—			11,031		11,031		—			11,031
Total intangible assets		$	13,727	$	(2,115	)	$	11,612	$	13,727	$	(1,854	)	$	11,873

Estimated Future Amortization Expense Related to Other Intangible Assets

Intangible assets amortization expense for the years ended December 31, 2020, 2019 and 2018 was $261,000, $309,000 and $362,000, respectively, and estimated future amortization expense related to the Core Deposit Intangible and the third-party originators intangible for each of the next five years is as follows:

	Amount
	(in thousands)
2021	$	216
2022		171
2023		126
2024		68
2025		—
Thereafter		—
	$	581