Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2012

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

(4) Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the six months ended June 30, 2012 is as follows (dollars in thousands):

Balance at December 31, 2011	$	46,233
Additions		29,589
Balance at June 30, 2012	$	75,822

The increase in goodwill is attributed to the acquisitions of CS and TC (see Note 3).

Acquired intangible assets at December 31, 2011 and June 30, 2012 were comprised of the following (dollars in thousands):

	December 31, 2011						June 30, 2012
	Gross						Gross
	carrying		Accumulated				carrying		Accumulated
	amount		amortization		Net		amount		amortization		Net
Amortized intangible assets:
Client contracts and broker relationships	$	26,534	$	15,206	$	11,328	$	44,424	$	17,079	$	27,345
Trade names		1,020		542		478		2,010		663		1,347
Technology		2,580		2,177		403		7,542		3,104		4,438
Noncompete agreements		2,011		1,665		346		2,011		1,685		326
Favorable lease		—		—		—		1,121		42		1,079
Total	$	32,145	$	19,590	$	12,555	$	57,108	$	22,573	$	34,535

Amortization expense for acquired intangible assets totaled $0.7 million and $1.7 million for the three months ended June 30, 2011 and 2012, respectively. Amortization expense for acquired intangible assets totaled $1.4 million and $3.0 million for the six months ended June 30, 2011 and 2012, respectively.

The estimated amortization expense for each of the five succeeding years and thereafter at June 30, 2012 is as follows (dollars in thousands):

2012	$	3,370
2013		5,834
2014		5,288
2015		3,792
2016		3,521
Thereafter		12,730
Total	$	34,535