v3.26.1
Note 7 - Intangibles and Goodwill
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Intangible Asset and Goodwill [Text Block]

NOTE 7. INTANGIBLES AND GOODWILL

 

Intangible Assets

 

Intangible assets as of June 30, 2026 and December 31, 2025 consisted of the following:

 

(in thousands)

                
  

Amortization Term (months)

  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

 

TJIM client relationships

  180  $8,700  $145  $8,555 

TJIM tradename

  120   1,000   25   975 

Total

     $9,700  $170  $9,530 

 

Amortization expense for both the six and three months ended June 30, 2026 was $170,000. The table below presents the future scheduled amortization of the Company’s intangible assets.

 

(in thousands)

    

Last six months of 2026

 $340 

For the years:

    

2027

  680 

2028

  680 

2029

  680 

2030

  680 

After 2030 (cumulative)

  6,470 

Total

 $9,530 

 

Goodwill

 

As of June 30, 2026, the Company had goodwill of $4.8 million, which is allocated to the asset management segment of TJIM.  Goodwill recognized in connection with the TJIM Acquisition primarily represents expected synergies, assembled workforce, and future economic benefits that do not qualify for separate recognition under ASC 805. Goodwill is tested for impairment at least annually, or more frequently in the case of a triggering event.