Intangible Assets

3 Months Ended

Mar. 31, 2026

Intangible Asset, Goodwill and Other [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:


	March 31, 2026				December 31, 2025
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	6,215	$	(5,067)	$	6,215	$	(5,003)

Software	5,512		(3,465)		5,512		(3,244)
Trade name	373		(133)		373		(125)

Unamortized intangible assets:
Goodwill	16,164		—		16,164		—
Total intangible assets	$	28,264	$	(8,665)	$	28,264	$	(8,372)

The customer lists are amortized over 5 to 10 years; software over 3 to 7 years; and the trade names over 10 to 20 years. Amortization of intangible assets amounted to $293,000 for both the three months ended March 31, 2026, and 2025, respectively. Estimated annual amortization of intangibles is $1.0 million in 2026, $730,000 in 2027 and 2028, $699,000 in 2029, and $197,000 in 2030.