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Note 7 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Text Block]

7.	GOODWILL AND INTANGIBLE ASSETS:

Goodwill

The changes in the carrying amount of goodwill for the year ended December 31, 2020 were as follows (in thousands):

Goodwill, December 31, 2019	$	-
Acquisition of Geneva (Note 3)		22,985
Goodwill, December 31, 2020	$	22,985

The Company performed its annual goodwill impairment test as of December 31, 2020, utilizing a qualitative analysis, and did not identify any potential impairment.

Intangible Assets

Intangible assets consist of the following (in thousands):

	Gross Carrying		Accumulated			Intangible
	Amount		Amortization			Assets, Net
As of December 31, 2020
Customer relationships	$	9,409	$	(1,634	)	$	7,775
Trade names and trademarks		3,225		(720	)		2,505
Other		329		(91	)		238
Total	$	12,963	$	(2,445	)	$	10,518

As of December 31, 2019
Customer relationships	$	1,378	$	(827	)	$	551
Trade names and trademarks		1,132		(452	)		680
Total	$	2,510	$	(1,279	)	$	1,231

During the year ended December 31, 2020, intangible assets increased primarily due to the acquisition of Geneva. See Note 3, “Business Combinations” for additional information related to this transaction.

The estimated amortization expense for each of the next five years and thereafter is as follows (in thousands):

Year ending December 31,
2021	$	1,262
2022		1,262
2023		1,171
2024		1,015
2025		1,015
Thereafter		4,793
Total amortization expense	$	10,518