INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 4. INTANGIBLE ASSETS

The following tables summarize intangible assets and customer relationships for the years ended December 31, 2020 and 2019:

	December 31, 2020
	Amortization
	period	Gross		Accumulated		Net intangible
	(years)	Amount		Amortization		assets
	(dollars in thousands)
Trade name	indefinite	$	5,000	$	—	$	5,000
Customer relationships	10		12,900		2,795		10,105
Total intangible assets		$	17,900	$	2,795	$	15,105

	December 31, 2019
	Amortization
	period	Gross		Accumulated		Net intangible
	(years)	Amount		Amortization		assets
	(dollars in thousands)
Trade name	indefinite	$	5,000	$	—	$	5,000
Non-compete agreement	2		140		71		69
Customer relationships	10		12,900		1,516		11,384
Total intangible assets		$	18,040	$	1,587	$	16,453

Amortization expense was $1.3 million and $1.4 million for the years ended December 31, 2020 and 2019, respectively.

The above customer relationships and intangible assets have a remaining life of 94 months.  The expected amortization of these assets for the next five successive years and thereafter is as follows:

	(in thousands)
2021	$	1,290
2022		1,290
2023		1,290
2024		1,290
2025		1,290
Thereafter		3,655
Total	$	10,105