INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2012

INTANGIBLE ASSETS

NOTE 9 — INTANGIBLE ASSETS

Intangible assets consist mainly of the Company’s PPAs acquired in business combinations and amounted to $35,492,000 and $38,781,000, net of accumulated amortization of $28,654,000 and $25,365,000, as of December 31, 2012 and 2011, respectively. Amortization expense for the years ended December 31, 2012, 2011, and 2010 amounted to $3,289,000, $3,279,000, and $3,179,000, respectively.

Estimated future amortization expense for the intangible assets as of December 31, 2012 is as follows:

	(Dollars in thousands)
Year ending December 31:
2013	$	3,289
2014		3,289
2015		3,289
2016		3,289
2017		3,289
Thereafter		19,047
Total	$	35,492