Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2013

Goodwill and Intangible Assets [Abstract]

There were no changes in the carrying amount of goodwill for the three or six month periods ended June 30, 2013. We have not identified any quantitative or qualitative factors for goodwill that would indicate impairment exists at June 30, 2013.

The Company also has material intangible assets consisting of purchased intangibles and internally developed software used in the conduct of business. There were no additions to or disposals of intangible assets for the three or six month period ended June 30, 2013.

The aggregate amortization expense recorded for the three month periods ended June 30, 2013 and 2012 was approximately $336,900 and $390,200, respectively. The aggregate amortization expense recorded for the six month periods ended June 30, 2013 and 2012 was approximately $688,700 and $780,400, respectively. The total weighted average life of purchased and internally developed intangible assets is approximately 5.5 years at June 30, 2013.