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GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS
 
The Company had a total of $303.3 million of goodwill as of September 30, 2018. The recorded goodwill was due to two separate business combinations during fiscal 2015, two separate business combinations during the first quarter of fiscal 2017, and one business combination during the fourth quarter of fiscal 2018. The fiscal 2015 business combinations included $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 fiscal 2017 business combinations included $30.4 million of goodwill in connection with the purchase of substantially all of the assets of EPS on November 1, 2016, and $31.4 million of goodwill in connection with the purchase of substantially all of the assets and specified liabilities of SCS on December 14, 2016. The fiscal 2018 business combination included $204.5 million of goodwill in connection with the Crestmark Acquisition consummated on August 1, 2018. The goodwill associated with the AFS/IBEX, Refund Advantage, EPS, and SCS transactions are deductible for tax purposes. The goodwill associated with the Crestmark Acquisition is not deductible for tax purposes.
 
The carrying amount of the Company’s goodwill and intangible assets for the years ended September 30, 2018 and 2017 are as follows:
 
 
September 30,
 
2018
 
2017
 
(Dollars in Thousands)
Goodwill
 
Beginning balance
$
98,723

 
$
36,928

Acquisitions during the period
204,547

 
61,795

Write-offs during the period
—

 
—

Ending balance
$
303,270

 
$
98,723




The Company completed an annual goodwill impairment test for the fiscal year ended September 30, 2018. 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 a quantitative analysis was not required and no impairment existed.
 
 
Trademark (1)
 
Non-Compete (2)
 
Customer Relationships (3)
 
Technology/Other (4)
 
Total
Intangibles
 
Balance as of September 30, 2017
$
10,051

 
$
1,782

 
$
31,707

 
$
8,638

 
$
52,178

Acquisitions during the period
3,634

 
—

 
24,278

 
449

 
28,361

Amortization during the period
(698
)
 
(485
)
 
(7,530
)
 
(928
)
 
(9,641
)
Write-offs during the period
—

 
—

 
—

 
(179
)
 
(179
)
Balance as of September 30, 2018
$
12,987

 
$
1,297

 
$
48,455

 
$
7,980

 
$
70,719

 
 
 
 
 
 
 
 
 
 
Balance upon acquisition
$
14,624

 
$
2,480

 
$
82,088

 
$
10,951

 
$
110,143

Accumulated amortization
$
(1,637
)
 
$
(1,183
)
 
$
(23,385
)
 
$
(2,263
)
 
$
(28,468
)
Accumulated impairment


 


 
$
(10,248
)
 
$
(708
)
 
$
(10,956
)
Balance as of September 30, 2018
$
12,987

 
$
1,297

 
$
48,455

 
$
7,980

 
$
70,719

(1) Book amortization period of 5-15 years. Amortized using the straight line and accelerated methods.
(2) Book amortization period of 3-5 years. Amortized using the straight line method.
(3) Book amortization period of 10-30 years. Amortized using the accelerated method.
(4) Book amortization period of 3-20 years. Amortized using the straight line method.


 
Trademark (1)
 
Non-Compete (2)
 
Customer Relationships (3)
 
Technology/Other (4)
 
Total
Intangibles
 
Balance as of September 30, 2016
$
5,149

 
$
127

 
$
20,590

 
$
3,055

 
$
28,921

Acquisitions during the period
5,500

 
2,180

 
31,770

 
6,947

 
46,397

Amortization during the period
(598
)
 
(525
)
 
(10,405
)
 
(835
)
 
(12,363
)
Write-offs during the period
—

 
—

 
(10,248
)
 
(529
)
 
(10,777
)
Balance as of September 30, 2017
$
10,051

 
$
1,782

 
$
31,707

 
$
8,638

 
$
52,178

 
 
 
 
 
 
 
 
 
 
Balance upon acquisition
$
10,990

 
$
2,480

 
$
57,810

 
$
10,502

 
$
81,782

Accumulated amortization
(939
)
 
(698
)
 
(15,855
)
 
(1,335
)
 
(18,827
)
Accumulated impairment
—

 
—

 
(10,248
)
 
(529
)
 
(10,777
)
Balance as of September 30, 2017
$
10,051

 
$
1,782

 
$
31,707

 
$
8,638

 
$
52,178


(1) Book amortization period of 15 years. Amortized using the straight line and accelerated methods.
(2) Book amortization period of 3 years. Amortized using the straight line method.
(3) Book amortization period of 10-30 years. Amortized using the accelerated method.
(4) Book amortization period of 3-20 years. Amortized using the straight line method.

The Company tests intangible assets for impairment at least annually or more often if conditions indicate a possible impairment. The Company recorded an immaterial impairment charge during the fourth quarter of fiscal 2018 and a $10.2 million intangible impairment charge during the fourth quarter of fiscal 2017 related to the non-renewal of the H&R Block relationship.

The weighted-average amortization period, by major intangible asset class and in total, for the acquisition during fiscal year 2018 were as follows:
 
Weighted Average Amortization Period
Intangible
Crestmark
Trademark
10.0
Customer Relationships
10.0
Technology/Other
3.0
Total
9.9


The anticipated future amortization of intangibles is as follows:
 
Year ended
 
(Dollars in Thousands)
2019
$
17,733

2020
11,017

2021
8,559

2022
6,404

2023
5,077

Thereafter
21,929

Total anticipated intangible amortization
$
70,719