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Goodwill and Intangibles

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill activity for the year consisted of the following at December 31, (in thousands):


	2023		2022
Balance at beginning of year	$	17,376	$	17,376
Additions	—		—
Impairment	—		—
Balance at end of year	$	17,376	$	17,376

Intangible assets at December 31, 2023 were comprised of the following (in thousands):


Definite-lived Intangible Assets	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade Name	25 years	$	250	$	(88)	$	162
Trademarks	10 years	1,610		(959)		651
Non-competition Agreement	5 years	1,810		(1,810)		—
Developed Technology	7 years	4,420		(3,762)		658
Customer Relationships	10-12 years	9,330		(4,784)		4,546
Total		$	17,420	$	(11,403)	$	6,017

Intangible assets at December 31, 2022 were comprised of the following (in thousands):


Definite-lived Intangible Assets	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade Name	25 years	$	250	$	(78)	$	172
Trademarks	10 years	1,610		(798)		812
Non-competition Agreement	5 years	1,810		(1,795)		15
Developed Technology	7 years	4,420		(3,131)		1,289
Customer Relationships	10-12 years	9,330		(3,999)		5,331
Total		$	17,420	$	(9,801)	$	7,619

The Company incurred $1,602,000, $1,948,000 and $1,949,000 of amortization expense for the years ended December 31, 2023, 2022, and 2021, respectively.

As of December 31, 2023, future intangible amortization was follows (in thousands):


	Amortization Expense
2024	$	1,587
2025	952
2026	915
2027	915
2028	761
2029 and thereafter	887
Total intangibles as of December 31, 2023	$	6,017