HERITAGE FINANCIAL CORP WA
For the period ended Jun 30, 2024. Filed Aug 9, 2024.
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Jun 30, 2024 · Filed Aug 9, 2024
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GOODWILL AND OTHER INTANGIBLE ASSETS
(5)Goodwill and Other Intangible Assets
(a) Goodwill
There wereno additions to goodwill during the six months ended June 30, 2024 and 2023. Additionally, management analyzes its goodwill on an annual basis on December 31 and between annual tests in certain circumstances such as material adverse changes in legal, business, regulatory and economic factors. An impairment loss is recorded to the extent the carrying amount of goodwill exceeds its implied fair value. The Company performed an annual impairment assessment as of December 31, 2023 and concluded that there wasno impairment.
(b) Other Intangible Assets
Other intangible assets represent core deposit intangible acquired in business combinations with estimated useful lives often years. There wereno additions to other intangible assets during the six months ended June 30, 2024 and 2023.
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