Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

During the three months ended September 30, 2020, we performed a qualitative assessment of goodwill and determined that a triggering event had not occurred. While an impairment assessment is performed annually in the fourth quarter, 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.

Intangible Assets

Amortizable intangible assets at September 30, 2020 related primarily to customer relationships that resulted from our acquisition of Amcom Software, Inc. in 2011. Such intangibles are being amortized over a period of 10 years. The estimated remaining amortization for the years ending December 31, 2020 and 2021 is $0.6 million and $0.4 million, respectively.

The net consolidated balance of intangible assets consisted of the following at September 30, 2020:

(Dollars in thousands)	Useful Life (In Years)	Gross Carrying Amount		Accumulated Amortization		Net Balance
Customer relationships	10	$	25,002	$	(23,960)	$	1,042
Total amortizable intangible assets		$	25,002	$	(23,960)	$	1,042