Orange County Bancorp, Inc. /DE/ Goodwill & Intangibles Disclosure
Note 6 — Goodwill and Intangible Assets
Goodwill: The changes in goodwill during the years are as follows:
| 2025 | | 2024 | |||
Beginning of year - Wealth Management | $ | 5,359 | $ | 5,359 | ||
Acquired goodwill impairment |
| — |
| — | ||
End of year - Wealth Management | $ | 5,359 | $ | 5,359 | ||
Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. At December 31, 2025, the Company’s reporting unit had increased earnings and positive equity. The Company elected to perform a Step 0 qualitative analysis and concluded that there was no goodwill impairment.
Acquired Intangible Assets: Acquired intangible assets were as follows at year-end:
| Gross | | |||
Intangible | Accumulated | ||||
Asset | Amortization | ||||
December 31, 2025 | |||||
Customer lists and intangible assets | $ | 4,284 |
| (3,749) | |
$ | 4,284 |
| (3,749) | ||
December 31, 2024 |
| |
| | |
Customer lists and intangible assets | $ | 4,284 |
| (3,463) | |
$ | 4,284 |
| (3,463) | ||
Aggregate amortization expense was $286 for 2025 and $286 for 2024. Estimated amortization expense for the next year is $286, then $249 in the final year.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 17, 2025 | |
| 2023 | Mar 29, 2024 | |
| 2022 | Mar 24, 2023 | |
| 2021 | Mar 30, 2022 | |
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.