BV Financial, Inc. Goodwill & Intangibles Disclosure
Note 5 – Goodwill and Intangible Assets
The activity in core deposit intangible assets for the years ended December 31, 2025 and ended December 31, 2024 was as follows:
|
|
|
|
|||||
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
||
(dollars in thousands) |
|
|
|
|
|
|
||
Net carrying amount at beginning of period |
|
$ |
831 |
|
|
$ |
1,012 |
|
Amortization |
|
|
(180 |
) |
|
|
(181 |
) |
Net carrying amount at end of period |
|
$ |
651 |
|
|
$ |
831 |
|
|
|
|
|
|
|
|
||
At December 31, 2025 future estimated annual amortization expense is as follows:
Year ending |
|
|
|
|
(in thousands) |
|
|
|
|
2026 |
|
$ |
180 |
|
2027 |
|
|
180 |
|
2028 |
|
|
180 |
|
2029 |
|
|
72 |
|
2030 |
|
|
30 |
|
Thereafter |
|
|
9 |
|
Total Estimated Amortization Expense |
|
$ |
651 |
|
Goodwill and other intangible assets are presented in the tables below.
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
||||||||||||||||||
|
|
Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net |
|
|
Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Core deposit intangible |
|
$ |
1,868 |
|
|
$ |
1,217 |
|
|
$ |
651 |
|
|
$ |
1,868 |
|
|
$ |
1,037 |
|
|
$ |
831 |
|
(dollars in thousands) |
|
December 31, 2025 |
|
|
December 31, 2024 |
|
||
|
|
|
|
|
|
|
||
Goodwill |
|
$ |
14,420 |
|
|
$ |
14,420 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 27, 2026 | Showing above |
| 2024 | Mar 27, 2025 | |
| 2023 | Mar 22, 2024 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.