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Intangible Assets, Goodwill and Title Plant
 9 Months Ended
Sep. 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 nine-month periods ended September 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
September 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(2,835)(2,456)
Identifiable intangible assets, net
$5,547 $5,926 

The following table provides the estimated aggregate amortization expense for each of the five succeeding fiscal years:
Year Ended (in thousands)
2020$126 
2021562 
2022525 
2023525 
2024473 
Thereafter3,336 
Total
$5,547 
Goodwill and Title Plant

As of September 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 as of the date of acquisition, both Level 3 inputs, were 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 nine-month periods ended September 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.