Note 7: Intangibles

The Company’s intangible assets consist of customer relationship intangibles, trade names, licenses for the use of internet domain names, Universal Resource Locators, or URL’s, software, and marketing and technology related intangibles.

Intangible amortization expense was approximately $960,000 and $522,000 for the years ended September 30, 2022 and 2021, respectively.

In connection with the quantitative assessment for goodwill impairment, as discussed above, the Company performed quantitative impairment testing of SW Financial's other indefinite-lived intangible assets and found these to also be impaired. As such, for the year ended September 30, 2022, the Company recorded an impairment charge of approximately $1.2 million, which included approximately $1.1 million in impairment of customer relationships and $59,000 of trade names. No such impairment occurred for the year ended September 30, 2021.