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Intangible Assets, Goodwill and Title Plant
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Business Combinations, Intangible Assets and Goodwill Intangible Assets, Goodwill and Title Plant
Intangible Assets

The estimated fair values of intangible assets recognized as the result of title insurance agency acquisitions, all Level 3 inputs, are principally based on values obtained from an independent third-party valuation service. In accordance with ASC 350, Intangibles – Goodwill and Other, management determined that no events or changes in circumstances occurred during the six-month periods ended June 30, 2020 and 2019 that would indicate the carrying amounts may not be recoverable, and therefore determined that no identifiable intangible assets were impaired.

Identifiable intangible assets consist of the following:
(in thousands)As of
June 30, 2020		As of
December 31, 2019
Referral relationships$6,416  $6,416  
Non-compete agreements1,406  1,406  
Tradename560  560  
Total
8,382  8,382  
Accumulated amortization(2,708) (2,456) 
Identifiable intangible assets, net
$5,674  $5,926  

The following table provides the estimated aggregate amortization expense for each of the five succeeding fiscal years:
Year Ended (in thousands)
2020$252  
2021562  
2022525  
2023525  
2024473  
Thereafter3,337  
Total
$5,674  
Goodwill and Title Plant

As of June 30, 2020, the Company recognized $4.4 million in goodwill and $690 thousand in a title plant, net of impairments, as the result of title insurance agency acquisitions.  The title plant is included with other assets in the Consolidated Balance Sheets. The fair values of goodwill and the title plant, both Level 3 inputs, are principally based on values obtained from an independent third-party valuation service as of the date of acquisition. In accordance with ASC 350, Intangibles – Goodwill and Other, management determined that no events or changes in circumstances occurred during the six-month periods ended June 30, 2020 and 2019 that would indicate the carrying amounts may not be recoverable, and therefore determined that there were no goodwill or title plant impairments.