Acquisition and related Goodwill and Intangibles

12 Months Ended

Dec. 31, 2014

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 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 for a cash purchase price of $3,500.  The acquisition 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 have recorded amortization of intangible assets of $4, $17 and $28 during 2014, 2013, and 2012, respectively.  Accumulated amortization of intangible assets was $179 and $175 as of December 31, 2014 and 2013, respectively.