INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

8. INTANGIBLE ASSETS

The Company’s indefinite-lived intangible assets as recorded in the Consolidated Balance Sheets consisted of the following:

	December 31, 2018							December 31, 2017
	Gross							Gross
	Carrying		Accumulated					Carrying		Accumulated
	Amount		Impairment			Net		Amount		Impairment			Net
	(Dollars in thousands)							(Dollars in thousands)
Indefinite-lived intangible assets
Goodwill	$	11,112	$	-		$	11,112	$	11,112	$	-		$	11,112
Trademarks		34,748		(1,880	)		32,868		34,748		(1,770	)		32,978
Total indefinite-lived intangible assets	$	45,860	$	(1,880	)	$	43,980	$	45,860	$	(1,770	)	$	44,090

As disclosed in Note 3, an impairment charge of $110,000 was recorded in 2018 to write off the remaining value of the Umi trademark, as the Company continues to wind down operations of this brand.

The Company’s amortizable intangible assets as recorded in the Consolidated Balance Sheets consisted of the following:

			December 31, 2018							December 31, 2017
	Weighted		Gross							Gross
	Average		Carrying		Accumulated					Carrying		Accumulated
	Life (Years)		Amount		Amortization			Net		Amount		Amortization			Net
			(Dollars in thousands)							(Dollars in thousands)
Amortizable intangible assets
Customer relationships		15	$	3,500	$	(1,828	)	$	1,672	$	3,500	$	(1,594	)	$	1,906
Total amortizable intangible assets			$	3,500	$	(1,828	)	$	1,672	$	3,500	$	(1,594	)	$	1,906

The amortizable intangible assets are included within other assets in the Consolidated Balance Sheets. See Note 9.

The Company recorded amortization expense for intangible assets of $234,000 in 2018 and $233,000 in 2017. Excluding the impact of any future acquisitions, the Company anticipates future amortization expense will be approximately $233,000 in each of the years 2019 through 2023, and $507,000 thereafter.