Acquisition and related Goodwill and Intangibles

12 Months Ended

Dec. 31, 2012

Acquisition and related Goodwill and Intangibles [Abstract]

Acquisition and related Goodwill and Intangibles

Note M – Acquisition and related Goodwill and Intangibles

On October 31, 2008, the Company purchased Transportation Specialty Insurance Agency, Inc., ("TIA") of Toledo, Ohio for a cash purchase price of $3,500. TIA is a commercial lines specialty insurance agency primarily focusing on the needs of the transportation industry including trucking independent contractors as well as fleet trucking companies. TIA is part of the Company's property and casualty insurance segment. As part of the purchase, the Company recorded goodwill of $3,152 and intangible assets related to customer relationships and employment agreements of $179 which are included in Other Assets in the consolidated balance sheets and has recorded amortization of intangible assets of $28, $35 and $41 during 2012, 2011 and 2010, respectively. Accumulated amortization on intangible assets was $158 and $130 as of December 31, 2012 and 2011, respectively.