Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Intangible assets of the Company consist of the following at December 31, 2021:

	Gross Carrying Amount		Accumulated Amortization		Weighted Average Life – Years
	(dollars in thousands)
Customer contracts	$	26,518	$	23,887	8.16
Trade names	4,673		2,143		16.43
Non-compete agreements	1,162		1,162		2.53
Unpatented technology	1,534		1,534		5.00
Total	$	33,887	$	28,726

Intangible assets of the Company consist of the following at December 31, 2020:

	Gross Carrying Amount		Accumulated Amortization		Weighted Average Life – Years
	(dollars in thousands)
Customer contracts	$	26,518	$	21,719	8.16
Trade names	4,673		1,924		16.43
Non-compete agreements	1,162		1,162		2.53
Unpatented technology	1,534		1,477		5.00
Total	$	33,887	$	26,282

The weighted average amortization period for all intangible assets is 8.96 years. Amortization expense for intangible assets totaled $2.4 million for the twelve months ended December 31, 2021 and $4.0 million for the twelve months ended December 31, 2020.

Estimated amortization expense for the next five years is as follows:

	Estimated Amortization Expense
	(dollars in thousands)
2022	$	1,305
2023	979
2024	759
2025	573
2026	223
Thereafter	1,322
Total	$	5,161