|44||447||491||Cost of acquisition at 1 January||636||530||106|
|59||447||506||Cost of acquisition at 31 December||737||573||164|
|25||-||25||Accumulated depreciation and write-downs as at 1 January||74||2||72|
|15||-||15||Current period's depreciation||21||-||21|
|-||-||-||Current period's write-down||8||5||3|
|36||-||36||Accumulated depreciation and write-down as at 31 December||97||7||90|
|23||447||470||Book value as at 31 December||639||565||74|
|33||447||480||Cost of acquisition at 1 January||584||527||57|
|44||447||491||Cost of acquisition at 31 December||636||530||106|
|18||-||18||Accumulated depreciation and write-downs as at 1 January||36||2||34|
|8||-||8||Current period's depreciation||13||-||13|
|25||-||25||Accumulated depreciation and write-down as at 31 December||74||2||72|
|19||447||466||Book value as at 31 December||562||528||34|
NOK 447m of the parent bank’s balance sheet value refers to excess value in connection with the purchase of 100 per cent of Romsdals Fellesbank in 2005. The amount at group level refers to the parent bank’s purchase of Romsdals Fellesbank as described above, the merger and acquisition of estate agencies from EiendomsMegler 1 Midt-Norge, and SpareBank 1 Regnskapshuset SMN’s acquisitions of accounting firms. The year’s increase of NOK 38m at group level relates to further acquisitions undertaken in 2016.
Goodwill items are valued annually and written down if impairment tests imply reduction in value. EiendomsMegler 1 Midt-Norge made a write down of goodwill of NOK 5.2m in 2016.
See note 3 - Critical estimates and assessments concerning the use of accounting principles -for a description of the valuation model for goodwill.