Intangible Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The Company accounts for intangible assets in accordance with ASC 350, Goodwill and Other Intangible Assets, which requires that intangibles with indefinite useful lives be tested annually for impairment, or when management deems there is a triggering event, and those with finite useful lives be amortized over their useful lives.

Details of the Company’s intangible assets are as follows:


	September 30, 2025				December 31, 2024
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	6,215	$	(4,938)	$	6,314	$	(4,729)

Software	5,512		(3,007)		5,412		(2,358)
Trade name	373		(119)		373		(98)

Unamortized intangible assets:
Goodwill	16,164		—		16,333		—
Total intangible assets	$	28,264	$	(8,064)	$	28,432	$	(7,185)

The customer lists are amortized over 5 to 10 years; software over 3 to 7 years; the trade names over 10 to 20 years; and other intangible assets over 15 years. Amortization of intangible assets amounted to $293,000 and $879,000 for the three and nine months ended September 30, 2025, respectively. Amortization of intangible assets amounted to $173,000 and

$519,000 for the three and nine months ended September 30, 2024, respectively. Estimated annual amortization of intangibles is $1.2 million in 2025, $1.0 million in 2026, $730,000 in 2027, 2028, and $699,000 in 2029.