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Intangible Assets

3 Months Ended

Mar. 31, 2021

Intangible Assets

Intangible Assets

5. Intangible Assets

During the three months ended March 31, 2021, there were no changes in the carrying value of the Company’s indefinite-lived intangible assets (goodwill and trademarks). The Company’s amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following:

March 31, 2021

December 31, 2020

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

(2,353)

$

1,147

$

3,500

(2,294)

$

1,206

Total amortizable intangible assets

$

3,500

(2,353)

$

1,147

$

3,500

(2,294)

$

1,206

Amortization expense related to the intangible assets was approximately $60,000 in both the first quarters of 2021 and 2020.