XML 28 R16.htm IDEA: XBRL DOCUMENT v3.22.0.1
GOODWILL AND INTANGIBLE ASSETS
3 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The Company held a total of $309.5 million of goodwill at December 31, 2021. The recorded goodwill is a result of multiple business combinations that have been consummated since fiscal year 2015, with the most recent pursuant to the Crestmark Acquisition that closed on August 1, 2018. Goodwill is assessed for impairment at least annually or more often if conditions indicate a possible impairment. The assessment is done at a reporting unit level, which is one level below the operating segments. See Note 14. Segment Reporting for additional information on the Company's segment reporting. There have been no changes to the carrying amount of goodwill during the three months ended December 31, 2021.
 
The changes in the carrying amount of the Company’s intangible assets were as follows:
(Dollars in thousands)
Trademark(1)
Non-Compete(2)
Customer Relationships(3)
All Others(4)
Total
Intangible Assets
At September 30, 2021$9,823 $40 $17,868 $5,417 $33,148 
Acquisitions during the period— — — 
Amortization during the period(263)(39)(1,054)(132)(1,488)
At December 31, 2021$9,560 $$16,814 $5,286 $31,661 
Gross carrying amount$14,624 $2,481 $82,088 $10,142 $109,335 
Accumulated amortization(5,064)(2,480)(55,026)(4,638)(67,208)
Accumulated impairment— — (10,248)(218)(10,466)
At December 31, 2021$9,560 $$16,814 $5,286 $31,661 
At September 30, 2020$10,901 $422 $24,333 $6,036 $41,692 
Acquisitions during the period— — — 
Amortization during the period(272)(95)(1,486)(160)(2,013)
Write-offs during the period— — — (24)(24)
At December 31, 2020$10,629 $327 $22,847 $5,857 $39,660 
Gross carrying amount$14,624 $2,481 $82,088 $10,123 $109,316 
Accumulated amortization(3,995)(2,154)(48,993)(4,047)(59,189)
Accumulated impairment— — (10,248)(219)(10,467)
At December 31, 2020$10,629 $327 $22,847 $5,857 $39,660 
(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.

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 nine months of fiscal 2022 and subsequent fiscal years was as follows:

(Dollars in thousands)
Remaining in 2022$4,933 
20235,102 
20244,384 
20253,826 
20263,252 
Thereafter10,164 
Total anticipated intangible amortization$31,661 

The Company tests intangible assets for impairment at least annually or more often if conditions indicate a possible impairment. There were no impairments to intangible assets during the three months ended December 31, 2021 and 2020. Intangible expense is recorded within the impairment expense line of the Condensed Consolidated Statements of Operations.