Core Deposits and Other Intangibles

12 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Core Deposits and Other Intangibles

Core Deposits and Other Intangibles

The following table presents a summary of intangible assets subject to amortization as of September 30, 2020 and 2019.

	Core Deposit Intangible		Brand Intangible		Customer Relationships Intangible		Other Intangible		Total
	(dollars in thousands)
As of September 30, 2020
Gross carrying amount	$	7,339	$	—	$	3,172	$	538	$	11,049
Accumulated amortization	(4,316)		—		(244)		(325)		(4,885)
Net intangible assets	$	3,023	$	—	$	2,928	$	213	$	6,164
As of September 30, 2019
Gross carrying amount	$	7,339	$	8,464	$	—	$	538	$	16,341
Accumulated amortization	(3,518)		(6,392)		—		(257)		(10,167)
Net intangible assets	$	3,821	$	2,072	$	—	$	281	$	6,174

Amortization expense of intangible assets was $1.4 million, $1.5 million and $1.7 million for the fiscal years ended September 30, 2020, 2019 and 2018, respectively.

In the second quarter of fiscal year 2020, the onset of the COVID-19 pandemic prompted the Company to assess its intangible assets for impairment. The Company believed the brand intangible asset was closely aligned with the goodwill of the Company, which was determined to be impaired as of March 31, 2020. As a result, the Company recognized an intangible asset impairment of $1.8 million for the fiscal years ended September 30, 2020. No intangible asset impairment charge was recognized for the fiscal years ended September 30, 2019 and 2018.

The estimated amortization expense of intangible assets assumes no activities, such as acquisitions, which would result in additional amortizable intangible assets. Estimated amortization expense of intangible assets in subsequent fiscal years is as follows.

Fiscal year	Amount
	(dollars in thousands)
2021	$	1,014
2022	929
2023	831
2024	742
2025	683
2026 and thereafter	1,965
Total	$	6,164