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Business Combinations, Intangible Assets and Goodwill | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Acquisition | Intangible Assets The estimated fair values of intangible assets recognized as the result of title insurance agency acquisitions, all Level 3 inputs, are principally based on values obtained from a third-party valuation service. In accordance with ASC 350, Intangibles – Goodwill and Other, management determined that no events or changes in circumstances occurred during the periods ended December 31, 2020 and 2019 that would indicate that carrying amounts may not be recoverable, and therefore determined that no identifiable intangible assets were impaired. Identifiable intangible assets consist of the following as of December 31:
Year Ended (in thousands) | 2020 |  | 2019
Referral relationships | $ | 6,416 |  |  | $ | 6,416 |
Non-complete agreements | 1,406 |  |  | 1,406 |
Tradename | 560 |  |  | 560 |
Total | 8,382 |  |  | 8,382 |
Accumulated amortization | (2,961) |  |  | (2,456) |
Identifiable intangible assets, net | $ | 5,421 |  |  | $ | 5,926 |
The following table provides the estimated aggregate amortization expense for each of the five succeeding fiscal years:
Year Ended (in thousands) |
2021 | $ | 497 |
2022 | 525 |
2023 | 525 |
2024 | 473 |
2025 | 455 |
Thereafter | 2,946 |
Total | $ | 5,421 |
Goodwill and Title Plant As of December 31, 2020, the Company has reported $4.4 million in goodwill and $690 thousand in a title plant, net of historical impairments, as the result of title agency acquisitions. The title plant is included with other assets in the Consolidated Balance Sheets. The estimated fair values of goodwill and the title plant, both Level 3 inputs, are principally based on values obtained from a third-party valuation service at the time of acquisition. In accordance with ASC 350, Intangibles – Goodwill and Other, management determined that no events or changes in circumstances occurred during the periods ended December 31, 2020 and 2019 that would indicate the carrying amounts may not be recoverable, and therefore concluded that neither goodwill nor the title plant were impaired.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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