GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill consists of the following (in thousands):

Intangible assets consist of the following (in thousands):


	December 31, 2025						December 31, 2024
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable:
Agent relationships	$	49,020	$	(42,257)	$	6,763	$	49,020	$	(40,489)	$	8,531
Trade names	30,599		(16,229)		14,370		30,598		(13,846)		16,752
Developed technology	6,600		(6,422)		178		6,600		(6,326)		274
Other intangibles	5,437		(1,344)		4,093		2,253		(963)		1,290
Net amortizable intangible assets	$	91,656	$	(66,252)	$	25,404	$	88,471	$	(61,624)	$	26,847

The following table presents the changes in goodwill and intangible assets (in thousands):


	Goodwill		Intangible Assets
Balance at December 31, 2022	$	49,774	$	19,826
Measurement period adjustment	(635)		—
Acquisition of LAN Holdings	4,847		3,200
Acquisition of agent locations	—		—
Amortization expense	—		(4,883)
Balance at December 31, 2023	$	53,986	$	18,143
Acquisition of Amigo Paisano brands	—		12,000
Acquisition of entities	1,209		—
Acquisition of agent locations	—		700
Amortization expense	—		(3,996)
Balance at December 31, 2024	$	55,195	$	26,847

Goodwill impairment	(1,209)		—
Acquisition of agent locations	—		3,183
Amortization expense	—		(4,626)
Balance at December 31, 2025	$	53,986	$	25,404

Amortization expense related to intangible assets for the next five years and thereafter is as follows (in thousands):