Intangible Assets

12 Months Ended

Dec. 31, 2019

Intangible Assets [Abstract]

Intangible Assets

(8)  Intangible Assets

The Company’s intangible assets as of December 31, 2019 and 2018 were as follows (in thousands):

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
December 31, 2019
Customer relationships	$	9,344	$	(5,221)	$	4,123
	$	9,344	$	(5,221)	$	4,123
December 31, 2018
Customer relationships	$	9,344	$	(3,611)	$	5,733
	$	9,344	$	(3,611)	$	5,733

Amortization expense was $1.6 million for the year ended December 31, 2019 and $2.0 million for both the years ended December 31, 2018 and 2017, and was included in administrative expenses in the consolidated statements of income.

As of December 31, 2019, estimated future amortization expenses are as follows (in thousands):

2020	$	1,609
2021		1,515
2022		474
2023		457
2024		68
	$	4,123