Goodwill and Intangibles

12 Months Ended

Dec. 31, 2025

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

Intangible assets at December 31, 2025 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	$	(109)	$	141
Trademarks	10 years	1,610		(1,281)		329
Developed Technology	7 years	4,420		(4,420)		—
Customer Relationships	10-12 years	9,330		(6,321)		3,009
Total		$	15,610	$	(12,131)	$	3,479

Intangible assets at December 31, 2024 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	$	(99)	$	151
Trademarks	10 years	1,610		(1,120)		490

Developed Technology	7 years	4,420		(4,393)		27
Customer Relationships	10-12 years	9,330		(5,568)		3,762
Total		$	15,610	$	(11,180)	$	4,430

The Company incurred $951,000, $1,587,000 and $1,602,000 of amortization expense for the years ended December 31, 2025, 2024, and 2023, respectively.

As of December 31, 2025, future intangible amortization is as follows (in thousands):