Hanmi Financial Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Other Intangible Assets

Other Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Note 5 — Other Intangible Assets

Other intangible assets were as follows for the periods indicated:


			December 31, 2013							December 31, 2012
	Amortization Period		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(In thousands)
Other intangible assets:
Trade names		20 years	$	970	$	(338	)	$	632	$	970	$	(290	)	$	680
Client/insured relationships		10 years		770		(539	)		231		770		(462	)		308
Carrier relationships		15 years		580		(272	)		308		580		(233	)		347

Total other intangible assets			$	2,320	$	(1,149	)	$	1,171	$	2,320	$	(985	)	$	1,335

The weighted-average amortization period for other intangible assets is 15.4 years. The total amortization expense for other intangible assets was $164,000, $198,000 and $700,000 during the years ended December 31, 2013, 2012 and 2011, respectively.

Estimated future amortization expense related to other intangible assets for each of the next five years is as follows:


Year Ending December 31,	Amount
	(In thousands)
2014	$	164
2015		164
2016		164
2017		87
2018		87
Thereafter		505

Total	$	1,171

As of December 31, 2013 and 2012, management is not aware of any circumstances that would indicate impairment of other intangible assets. There was no impairment charges related to other intangible asset recorded through earnings in 2013 or 2012.