PREMISES AND EQUIPMENT & DEVELOPED SOFTWARE (Tables)

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

Components of Premises and Equipment and Developed Software

The components of premises and equipment were as follows:

(amounts in thousands)	Expected Useful Life	March 31, 2021		December 31, 2020
Leasehold improvements	5 years	$	28	$	28
Furniture, fixtures and equipment	10 years	243		243
IT equipment	3 to 5 years	1,675		1,675
		1,946		1,946
Accumulated amortization		(1,601)		(1,545)
Total		$	345	$	401

The components of developed software were as follows:

(amounts in thousands)	Expected Useful Life	March 31, 2021		December 31, 2020
Higher One Disbursement business developed software	10 years	$	27,400	$	27,400
Internally developed software	3 to 5 years	40,105		40,104
Work-in-process		1,736		1,620
		69,241		69,124
Accumulated amortization		(32,289)		(29,467)
Total		$	36,952	$	39,657