XML 28 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Other Identifiable Intangible Assets
9 Months Ended
Sep. 30, 2018
Other Identifiable Intangible Assets [Abstract]  
Other Identifiable Intangible Assets

Note 10. Other Identifiable Intangible Assets



On November 29, 2012, the Company acquired certain software rights for approximately $1.8 million for use in managing prepaid cards in connection with an acquisition.  The software is being amortized over eight years.  Amortization expense is $217,000 per year  ($396,000 over the remainder of the amortization period).  The gross carrying amount of the software is $1.8 million, and as of September 30, 2018, the accumulated amortization was $1.4 million.

 

The Company accounts for its prepaid card customer list in accordance with ASC 350, “Intangibles-Goodwill and Other”. The acquisition of the Stored Value Solutions division of Marshall Bank First in 2007 resulted in a customer list intangible of $12.0 million which is being amortized over a 12 year period.  Amortization expense is $1.0 million per year ($1.3 million over the remainder of the amortization period).  The gross carrying amount of the customer list intangible is $12.0 million, and as of September 30, 2018, the accumulated amortization was $10.7 million. 



In May 2016, the Company purchased approximately $60 million of lease receivables which resulted in a customer list intangible of $3.4 million that is being amortized over a 10 year period.  Amortization expense is $340,000 per year  ($1.7 million over the next five years).  The gross carrying amount of the customer list intangible is $3.4 million, and as of September 30, 2018, the accumulated amortization was $823,000.