GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

During the quarter ended December 31, 2019, we performed our annual assessment of goodwill. Based on our assessment, using data as of October 31, 2019, the carrying value of the reporting unit exceeded the estimated fair value of the Company which indicated an impairment existed. For purposes of the goodwill impairment assessment, the Company as a whole is considered the reporting unit. The fair value of the reporting unit is estimated under a market based approach using the fair value of the Company's common stock. The estimated fair value requires significant judgments, including timing and appropriateness of the price of common stock used (e.g., point-in-time application, simple moving average, exponential moving average), as well as application of an estimated control premium. The estimated control premium is based on a review of current and past market information published by a third-party resource. While a formal impairment assessment is performed annually, the Company monitors its business environment for potential triggering events on a quarterly basis. There is potential for further impairment charges being recognized in future periods based on these ongoing assessments. The change in goodwill for the year ended December 31, 2019 was as follows:



(Dollars in thousands)	(Dollars in thousands)
Goodwill at January 1, 2019	$	133,031
Impairment	(8,849		)
Goodwill at December 31, 2019	$	124,182

Intangible Assets

Amortizable intangible assets at December 31, 2019 and 2018 related primarily to customer relationships. Such intangible assets are being amortized over a period of ten years. We have not recorded an impairment of our intangible assets during the years ended December 31, 2019, 2018 and 2017.

The net consolidated balance of intangible assets consisted of the following at December 31, 2019 and 2018:



		As of December 31,
		2019							2018
(Dollars in thousands)	Useful Life (In Years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	10	$	25,002	$	(22,085	)	$	2,917	$	25,002	$	(19,585	)	$	5,417

Estimated amortization of intangible assets for future periods was as follows:



For the year ending December 31,	(Dollars in thousands)
2020	2,500
2021	417
Total	$	2,917