HALLMARK FINANCIAL SERVICES INC - 10-K filing on 2016-03-10

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets [Abstract]

Schedule of Acquired Intangible Assets by Major Category

We have obtained various intangible assets from several acquisitions since 2002. The table below details the gross and net carrying amounts of these assets by major category (in thousands):



	December 31
	2015		2014
Gross Carrying Amount:
Customer/agent relationships	$	32,177	$	32,177
Tradename		3,440		3,440
Management agreement		3,232		3,232
Non-compete & employment agreements		4,235		4,235
Insurance licenses		1,300		1,300
Total gross carrying amount		44,384		44,384

Accumulated Amortization:
Customer/agent relationships		(19,799)		(17,561)
Tradename		(2,159)		(1,929)
Management agreement		(3,232)		(3,232)
Non-compete & employment agreements		(4,235)		(4,235)
Total accumulated amortization		(29,425)		(26,957)
Total net carrying amount	$	14,959	$	17,427

Schedule of Estimated Aggregate Amortization Expense for Definite-Lived Intangible Assets

Insurance licenses are not amortized because they have an indefinite life. We amortize definite-lived intangible assets straight line over their respective lives. The estimated aggregate amortization expense for definite-lived intangible assets for the next five years is as follows (in thousands):



2016	$	2,468
2017	$	2,468
2018	$	2,468
2019	$	2,468
2020	$	2,468

Schedule of Weighted Average Amortization Period for Definite Lived Intangible Assets by Major Cass

The weighted average amortization period for definite-lived intangible assets by major class is as follows:



			Years
Tradename			15
Customer/ agent relationships			15
Management agreement			4
Non-compete agreements			5