Intangible Assets

6 Months Ended

Jun. 30, 2021

6. Intangible Assets

The Company’s indefinite-lived intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows:


	June 30,		December 31,
	2021		2020

	(Dollars in thousands)
Indefinite-lived intangibles:
Goodwill	$	12,219	$	11,112
Trademarks		34,768		32,868
Total	$	46,987	$	43,980

The additional goodwill and trademarks in 2021 resulted from the Forsake acquisition. Goodwill resulting from the Forsake acquisition has been allocated to the Company’s wholesale and retail segments as of the acquisition date. Changes in the carrying amount of the Company’s goodwill by reportable segment for the six months ended June 30, 2021, were as follows:


	Wholesale		Retail		Total

	(Dollars in thousands)
Balance, December 31, 2020	$	11,112	$	—	$	11,112
Acquisition of business		332		775		1,107
Balance, June 30, 2021	$	11,444	$	775	$	12,219

The Company’s amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following:


			June 30, 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	$	(2,411)	$	1,089	$	3,500	$	(2,294)	$	1,206
Total amortizable intangible assets			$	3,500	$	(2,411)	$	1,089	$	3,500	$	(2,294)	$	1,206

Amortization expense related to the intangible assets was approximately $60,000 in both the second quarters of 2021 and 2020. For both the six months ended June 30, 2021 and 2020, amortization expense related to the intangible assets was approximately $120,000.