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Other Intangible Assets
 12 Months Ended
Dec. 31, 2011
Other Intangible Assets Disclosure [Abstract]  
Other Intangible Assets Disclosure [Text Block]

Note 7:      Other Intangible Assets

 

The carrying basis and accumulated amortization of recognized intangible assets at December 31, 2011 and 2010 were:

 

    2011     2010  
    Gross Carrying     Accumulated     Gross Carrying     Accumulated  
    Amount     Amortization     Amount     Amortization  
Core deposits intangible   $ 5,450,647     $ (3,681,144 )   $ 5,450,647     $ (3,059,520 )
Customer relationship intangible     200,627       (121,580 )     200,627       (113,622 )
Banking intangibles     5,651,274       (3,802,724 )     5,651,274       (3,173,142 )
                                 
Customer relationship intangible     797,156       (797,156 )     797,156       (690,156 )
Trademark intangible     180,000       (180,000 )     180,000       (180,000 )
Non-compete intangible     83,000       (83,000 )     83,000       (83,000 )
Data processing intangibles     1,060,156       (1,060,156 )     1,060,156       (953,156 )
                                 
                                 
Purchased software - banking     679,148       (597,555 )     679,148       (512,814 )
Purchased software - data processing     161,564       (84,311 )     960,240       (105,538 )
Purchased software - other     86,200       (86,200 )     86,200       (86,200 )
Purchased software     926,912       (768,066 )     1,725,588       (704,552 )
Total   $ 7,638,342     $ (5,630,946 )   $ 8,437,018     $ (4,830,850 )

 

Amortization expense for Core Deposits and Other for the years ended December 31, 2011, 2010 and 2009, was $736,582, $800,747 and $858,423, respectively. Amortization expense for purchased software for the years ended December 31, 2011, 2010 and 2009 was $281,075, $1,608,017 and $1,816,247, respectively. At December 31, 2011 RDSI wrote-off software related to a specialized vendor that was an RDSI partner. At June 30, 2010, RDSI impaired the purchased software related to the Single Source data processing system. The gross carrying amount for purchased software-data processing was reduced by $11.7 million. Estimated amortization expense for each of the following five years is:

 

    2012     2013     2014     2015     2016  
                               
Core deposit intangible   $ 617,490     $ 566,994     $ 365,465     $ 194,702     $ 8,068  
Customer relationship intangible     7,934       7,202       6,461       5,805       5,242  
Banking intangibles     625,424       574,195       371,926       200,507       13,310  
                                         
Purchased software - Banking     41,339       24,161       16,093       -       -  
Purchased software - Data Processing     34,755       23,911       15,231       3,356       -  
Purchased Software     76,094       48,072       31,324       3,356       -  
Total   $ 701,518     $ 622,267     $ 403,250     $ 203,863     $ 13,310