v3.25.4
Discontinued Operations and Disposal Groups (Policies)
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations, Policy
On April 7, 2025, the Company signed an Asset Purchase Agreement providing for the sale of its telecom expense management and managed mobility solutions business unit ("TEM Business Unit") to Asignet USA Inc ("Asignet") for a purchase price of $18.0 million. The sale closed on June 30, 2025. The Company also signed a Transition Services Agreement with Asignet to provide certain information technology, data ingestion, and payment processing services for a period of time not to exceed 18 months after closing.

The Company has applied discontinued operations accounting in accordance with ASC Topic 205-20, “Presentation of Financial Statements – Discontinued Operations,” to the assets and liabilities being sold related to the Company's TEM Business Unit as of and for the years ended December 31, 2025, 2024, and 2023, as applicable. The sale of the TEM Business Unit represents a strategic shift due to the Company completely exiting both the telecom expense management and managed mobility solutions businesses. The Company did not allocate any consolidated interest that is not directly attributable to or related to discontinued operations. All financial information in the consolidated financial statements and notes to the consolidated financial statements is reported on a continuing operations basis, unless otherwise noted. The TEM Business Unit is included in the Information Services operating segment.
The carrying amount of major classes of assets and liabilities included as part of discontinued operations at December 31, 2025 and 2024 were as follows:
December 31,
(In thousands except share and per share data)20252024
Assets
Premises and equipment, net $— $3,598 
Goodwill — 5,019 
Other intangible assets, net — 93 
Other assets — 5,703 
Assets of discontinued operations $— $14,413 
Liabilities
Accounts and drafts payable — 19,665 
Other liabilities — 2,649 
Liabilities of discontinued operations$— $22,314 
Net income from discontinued operations for the years ended December 31, 2025, 2024, and 2023 is as follows:
For the Years Ended December 31,
(In thousands except per share data)202520242023
Fee Revenue and Other Income:
Processing fees$7,630 $15,795 $17,837 
Financial fees888 713 646 
Other3,402 1,494 2,059 
Gain on sale of TEM business3,550 — — 
Total fee revenue and other income 15,470 18,002 20,542 
Operating Expense:
Salaries and commissions6,637 11,533 11,562 
Share-based compensation27 116 132 
Other benefits1,414 2,406 2,612 
Total personnel expenses8,078 14,055 14,306 
Occupancy 408 751 761 
Equipment 110 204 242 
Amortization of intangible assets 18 45 88 
Other operating 1,542 2,174 2,252 
Total operating expense 10,156 17,229 17,649 
Income from discontinued operations, before income tax expense5,314 773 2,893 
Income tax expense 1,310 163 724 
Net income from discontinued operations$4,004 $610 $2,169