GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

The Company recorded a total of $36.9 million of goodwill during the fiscal year ended September 30, 2016. The recorded goodwill was due to two separate business combinations during fiscal 2015 – $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, and $25.4 million in goodwill in connection with the purchase of substantially all of the assets and liabilities of Refund Advantage, on September 8, 2015. The goodwill associated with these transactions are deductible for tax purposes.

As part of the each business combination, the Company also recognized the following amortizable intangible assets:

AFS/IBEX:



Intangible	Amount Upon Acquisition		Accumulated Amortization			Balance at September 30, 2016		Book Amortization Period (Years)	Method
Trademark	$	540	$	(66	)	$	474	15	Straight Line
Non-Compete	260		(159		)	101		3	Straight Line
Customer Relationships	7,240		(2,296		)	4,944		30	Accelerated
Other	173		(92		)	81		Varied	Straight Line
Total	$	8,213	$	(2,613	)	$	5,600

Refund Advantage:



Intangible	Amount Upon Acquisition		Accumulated Amortization			Balance at September 30, 2016		Book Amortization Period (Years)	Method
Trademark	$	4,950	$	(275	)	$	4,675	15	Accelerated
Non-Compete	40		(14		)	26		3	Straight Line
Customer Relationships	18,800		(3,154		)	15,646		12 to 20	Accelerated
Other	329		(73		)	256		Varied	Straight Line
Total	$	24,119	$	(3,516	)	$	20,603

Other:



Intangible	Amount Upon Acquisition		Accumulated Amortization			Balance at September 30, 2016		Book Amortization Period (Years)	Method
Other	$	3,054	$	(336	)	$	2,718	Varied	Straight Line
Total	$	3,054	$	(336	)	$	2,718

The changes in the carrying amount of the Company’s goodwill and intangible assets for the years ended September 30, 2016 and 2015 are as follows:



	September 30,
	2016		2015
	(Dollars in Thousands)
Goodwill
Beginning balance	$	36,928	$	—
Acquisitions during the period	—		36,928
Write-offs during the period	—		—
Ending balance	$	36,928	$	36,928

The Company completed an annual goodwill impairment test for the fiscal year ended September 30, 2016. Based on the results of the qualitative analysis, it was identified that it was more likely than not the fair value of the goodwill recorded exceeded the current carrying value. The Company concluded quantitative analysis was not required and no impairment existed.



	Trademark			Non-Compete			Customer Relationships			All Others			Total
Intangibles
Balance as of September 30, 2015	$	5,439		$	227		$	24,811		$	3,100		$	33,577
Acquisitions during the period	—			—			—			172			172
Amortization during the period	(290		)	(100		)	(4,221		)	(217		)	(4,828		)
Write-offs during the period	—			—			—			—			—
Balance as of September 30, 2016	$	5,149		$	127		$	20,590		$	3,055		$	28,921



	Trademark			Non-Compete			Customer Relationships			All Others			Total
Intangibles
Balance as of September 30, 2014	$	—		$	—		$	—		$	2,588		$	2,588
Acquisitions during the period	5,490			300			26,040			855			32,685
Amortization during the period	(51		)	(73		)	(1,229		)	(282		)	(1,635		)
Write-offs during the period	—			—			—			(61		)	(61		)
Balance as of September 30, 2015	$	5,439		$	227		$	24,811		$	3,100		$	33,577

The Company tests intangible assets for impairment at least annually or more often if conditions indicate a possible impairment.

The anticipated future amortization of intangibles is as follows:



	September 30,
	(Dollars in Thousands)
2017	$	4,128
2018	3,529
2019	3,013
2020	2,610
2021	2,271
Thereafter	13,370
Total anticipated intangible amortization	$	28,921

- 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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