GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Dec. 31, 2014

GOODWILL AND INTANGIBLE ASSETS [Abstract]

NOTE 12. GOODWILL AND INTANGIBLE ASSETS

Meta Financial recorded $11.6 million of goodwill in connection with the purchase of substantially all of the commercial loan portfolio and related assets of AFS/IBEX on December 2, 2014. The goodwill associated with this transaction is deductible for tax purposes. As part of the AFS/IBEX transaction, Meta Financial recognized the following amortizable intangible assets:

December 31, 2014
Intangible	Amount		Book Amortization Period		Method

Trademark	$	540		15	Straight Line
Non-Compete	$	260		3	Straight Line
Customer Relationships	$	7,240		30	Accelerated
Other	$	173	Varied		Straight Line

The changes in the carrying amount of the Company’s goodwill and intangible assets for the three months ended December 31, 2014 and 2013 are as follows:

	Specialty		Specialty			Meta Payment			Meta Payment
	Finance		Finance			Systems^®			Systems^®
	Goodwill		Intangibles			Patents			Other		Total
	(Dollars in Thousands)

Balance as of September 30, 2014	$	-	$	-		$	2,588		$	-	$	2,588

Acquisitions during the period		11,578		8,213			-			-		19,791

Patent costs capitalized during the period		-		-			44			-		44

Amortization during the period		-		(113	)		(23	)		-		(136	)

Balance as of December 31, 2014	$	11,578	$	8,100		$	2,609		$	-	$	22,287

	Specialty Finance Goodwill		Specialty Finance Intangibles		Meta Payment Systems^® Patents			Meta Payment Systems^® Other		Total
	(Dollars in Thousands)

Balance as of September 30, 2013	$	-	$	-	$	2,339		$	-	$	2,339

Patents costs capitalized during the period		-		-	$	99			-		99

Amortization during the period		-		-	$	(16	)		-		(16	)

Balance as of December 31, 2013	$	-	$	-	$	2,422		$	-	$	2,422

The Company tests intangible assets for impairment at least annually or more often if conditions indicate a possible impairment. There was no impairment to intangible assets during the three months ended December 31, 2014 and 2013.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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