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LOAN SERVICING | 12 Months Ended
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Dec. 31, 2024
Banking and Thrift, Other Disclosure [Abstract] |
LOAN SERVICING | LOAN SERVICING Mortgage loans serviced for others are not included in the accompanying Consolidated Balance Sheets. The unpaid balances are as follows for December 31, 2024 and 2023.
| 2024 |  | 2023
Mortgage loan portfolios serviced for: |  |  |
Federal Home Loan Mortgage Corporation | $ | 835,432 |  |  | $ | 809,198 |
Fannie Mae | 758,477 |  |  | 780,926 |
Equity Bank | 36,408 |  |  | 42,429 |
Federal Home Loan Bank | 386,022 |  |  | 159,590 |
Total | $ | 2,016,339 |  |  | $ | 1,792,143 |
For certain loans, the originated loans are sold to third parties on a non-recourse basis with servicing rights retained. The retained servicing rights are recorded as a servicing asset and are reported under the line item "Other Assets" in the Consolidated Balance Sheets. The associated amortization expense is included in "Other Noninterest Expense" in the Consolidated Statements of Income. Mortgage servicing rights are initially recorded at fair value and then carried at the lower of amortized cost or fair value. The following table presents changes in the servicing asset during the years ended December 31, 2024 and 2023:
| Year Ended December 31,
| 2024 |  | 2023
Balance, beginning of period | $ | 8,157 |  |  | $ | 8,055 |
Servicing rights capitalized | 4,444 |  |  | 3,160 |
Amortization of servicing rights | (3,202) |  |  | (3,058) |
Balance, end of period | $ | 9,399 |  |  | $ | 8,157 |
The fair value of servicing rights was $12.9 million and $11.9 million for the years ended December 31, 2024 and 2023, respectively. Fair value at December 31, 2024 was determined using weighted average discount rates ranging from 2.55 percent to 8.22 percent, Public Securities Association Prepayment Model speed (“PSA”) ranging from 0 percent to 274 percent and cost to service of $6 per loan. Fair value at December 31, 2023 was determined using weighted average discount rates ranging from 2.55 percent to 8.20 percent, PSA ranging from 103 percent to 555 percent, and cost to service of $6 per loan.

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- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(11)) -Publisher 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