. GOODWILL AND INTANGIBLE ASSETS

As of

December 31, 2019

and

2018

, the carrying amounts of goodwill were

$2.3

million and

$1.9

million, respectively.

Intangible assets balance was

$6.2

million and

$5.1

million as of

December 31, 2019

and

2018

, respectively. Intangible assets as of

December 31, 2019

and

2018

, consist of the following (in thousands):

		December 31, 2019						December 31, 2018
	Amortization	Gross				Net		Gross				Net
	Period	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
(Dollars in thousands)	(Years)	Amount		Amortization		Amount		Amount		Amortization		Amount
Customer relationships	1 - 9		$ 7,440		$ (4,935)		$ 2,505		$ 6,740		$ (4,514)		$ 2,226
Developed technology	4 - 9		17,460		(14,101)		3,359		15,820		(13,404)		2,416
Tradename	2 - 7		790		(673)		117		790		(648)		142
Patent	7 - 10		1,800		(1,560)		240		1,800		(1,520)		280
Total			$ 27,490		$ (21,269)		$ 6,221		$ 25,150		$ (20,086)		$ 5,064

The weighted average amortization period for acquired identifiable intangible assets was

6.2

years as of

December 31, 2019

. Intangible asset amortization expense for years ended

December 31, 2019

and

2018

was

$1.2

million and

$1.0

million, respectively. The Company expects annual amortization of acquired identifiable intangible assets to be as follows (in thousands):

Year Ending December 31,
2020	$	1,269
2021		1,093
2022		886
2023		886
2024		747
2025 and thereafter		1,340
Total future amortization expense	$	6,221

Intangible assets are amortized over their useful lives unless these lives are determined to be indefinite. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group

may

not

be recoverable. During year ended

December 31, 2019

, there were

indicators of impairment related to the Company’s intangible assets.