XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.19.1

GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
--- | ---
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The Company held a total of $307.5 million of goodwill as of March 31, 2019. The recorded goodwill is a result of multiple business combinations that have occurred since fiscal year 2015, the most recent being the merger with Crestmark pursuant to the Crestmark acquisition that closed on August 1, 2018. Goodwill is assessed for impairment at a reporting unit level, which is one level below the operating segments. The changes in the carrying amount of the Company’s goodwill and intangible assets for the six months ended March 31, 2019 and 2018 were as follows:
| Payments |  | Banking |  | Corporate Services/Other |  | Total
Goodwill | (Dollars in Thousands)
September 30, 2018 | $ | 87,145 |  |  | $ | 216,125 |  |  | $ | — |  |  | $ | 303,270 |
Acquisitions | — |  |  | — |  |  | — |  |  | — |
Measurement Period Adjustments (1) | — |  |  | 4,194 |  |  | — |  |  | 4,194 |
Impairment | — |  |  | — |  |  | — |  |  | — |
March 31, 2019 | $ | 87,145 |  |  | $ | 220,319 |  |  | $ | — |  |  | $ | 307,464 |
September 30, 2017 | $ | 87,145 |  |  | $ | 11,578 |  |  | $ | — |  |  | $ | 98,723 |
Acquisitions | — |  |  | — |  |  | — |  |  | — |
Impairment | — |  |  | — |  |  | — |  |  | — |
March 31, 2018 | $ | 87,145 |  |  | $ | 11,578 |  |  | $ | — |  |  | $ | 98,723 |
(1) The Company recognized measurement period adjustments on provisional goodwill during the second fiscal quarter of 2019 related to the Crestmark acquisition. Refer to Note 3. Acquisitions.
| Trademark(1) |  | Non-Compete(2) |  | Customer Relationships(3) |  | All Others(4) |  | Total
Intangibles | (Dollars in Thousands)
Balance as of September 30, 2018 | $ | 12,987 |  |  | $ | 1,297 |  |  | $ | 48,455 |  |  | $ | 7,980 |  |  | $ | 70,719 |
Acquisitions during the period | — |  |  | — |  |  | — |  |  | 78 |  |  | 78 |
Amortization during the period | (514 | ) |  | (235 | ) |  | (8,742 | ) |  | (487 | ) |  | (9,978 | )
Write-offs during the period | — |  |  | — |  |  | — |  |  | (313 | ) |  | (313 | )
Balance as of March 31, 2019 | $ | 12,473 |  |  | $ | 1,062 |  |  | $ | 39,713 |  |  | $ | 7,258 |  |  | $ | 60,506 |
Gross carrying amount | $ | 14,624 |  |  | $ | 2,480 |  |  | $ | 82,088 |  |  | $ | 10,667 |  |  | $ | 109,859 |
Accumulated amortization | (2,151 | ) |  | (1,418 | ) |  | (32,127 | ) |  | (2,750 | ) |  | (38,446 | )
Accumulated impairment | — |  |  | — |  |  | (10,248 | ) |  | (659 | ) |  | (10,907 | )
Balance as of March 31, 2019 | $ | 12,473 |  |  | $ | 1,062 |  |  | $ | 39,713 |  |  | $ | 7,258 |  |  | $ | 60,506 |
(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) |  | All Others(4) |  | Total
Intangibles | (Dollars in Thousands)
Balance as of September 30, 2017 | $ | 10,051 |  |  | $ | 1,782 |  |  | $ | 31,707 |  |  | $ | 8,638 |  |  | $ | 52,178 |
Acquisitions during the period | — |  |  | — |  |  | — |  |  | 47 |  |  | 47 |
Amortization during the period | (319 | ) |  | (249 | ) |  | (3,388 | ) |  | (456 | ) |  | (4,412 | )
Write-offs during the period | — |  |  | — |  |  | — |  |  | (89 | ) |  | (89 | )
Balance as of March 31, 2018 | $ | 9,732 |  |  | $ | 1,533 |  |  | $ | 28,319 |  |  | $ | 8,140 |  |  | $ | 47,724 |
Gross carrying amount | $ | 10,990 |  |  | $ | 2,480 |  |  | $ | 57,810 |  |  | $ | 10,550 |  |  | $ | 81,830 |
Accumulated amortization | (1,258 | ) |  | (947 | ) |  | (19,243 | ) |  | (1,792 | ) |  | (23,240 | )
Accumulated impairment | — |  |  | — |  |  | (10,248 | ) |  | (618 | ) |  | (10,866 | )
Balance as of March 31, 2018 | $ | 9,732 |  |  | $ | 1,533 |  |  | $ | 28,319 |  |  | $ | 8,140 |  |  | $ | 47,724 |
(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 estimated amortization expense of intangible assets assumes no activities, such as acquisitions, which would result in additional amortizable intangible assets. Estimated amortization expense of intangible assets in the remaining six months of fiscal 2019 and subsequent fiscal years is as follows:
| (Dollars in Thousands)
Remaining in 2019 | $ | 7,731 |
2020 | 10,984 |
2021 | 8,525 |
2022 | 6,399 |
2023 | 5,081 |
2024 | 4,363 |
Thereafter | 17,423 |
Total anticipated intangible amortization | $ | 60,506 |
The Company tests intangible assets for impairment at least annually or more often if conditions indicate a possible impairment. There was $0.1 million in impairments to intangible assets during the three and six months ended March 31, 2019 and no impairments to intangible assets during the three and six months ended March 31, 2018.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration