GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Jun. 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, 2015, due to two separate business combinations – $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 Fort Knox Financial Services Corporation and its subsidiary (collectively referred to as “Refund Advantage”) on September 8, 2015. The goodwill associated with these transactions is deductible for tax purposes.

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



AFS/IBEX
Intangible	Amount		Book Amortization Period (Years)	Method
Trademark	$	540	15	Straight Line
Non-Compete	$	260	3	Straight Line
Customer Relationships	$	7,240	30	Accelerated
Other	$	173	Varied	Straight Line



Refund Advantage
Intangible	Amount		Book Amortization Period (Years)	Method
Trademark	$	4,950	30	Accelerated
Non-Compete	$	40	3	Straight Line
Customer Relationships	$	18,800	12 to 20	Accelerated
Other	$	329	Varied	Straight Line

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



	June 30,
	2016		2015
	(Dollars in Thousands)
Goodwill
Balance as of September 30	$	36,928	$	—
Acquisitions during the period	—		11,578
Write-offs during the period	—		—
Balance as of June 30	$	36,928	$	11,578



	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	—			—			—			155			155
Amortization during the period	(216		)	(75		)	(3,191		)	(162		)	(3,644		)
Write-offs during the period	—			—			—			—			—
Balance as of June 30, 2016	$	5,223		$	152		$	21,620		$	3,093		$	30,088



	Trademark			Non-Compete			Customer Relationships			All Others			Total
Intangibles
Balance as of September 30, 2014	$	—		$	—		$	—		$	2,588		$	2,588
Acquisitions during the period	540			260			7,240			468			8,508
Amortization during the period	(21		)	(51		)	(689		)	(198		)	(959		)
Write-offs during the period	—			—			—			—			—
Balance as of June 30, 2015	$	519		$	209		$	6,551		$	2,858		$	10,137

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 nine months ended June 30, 2016 and 2015. The annual goodwill impairment test will be conducted at September 30, 2016.

- 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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