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LOAN SERVICING
 12 Months Ended
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.  

20242023
Mortgage loan portfolios serviced for:
Federal Home Loan Mortgage Corporation$835,432 $809,198 
Fannie Mae758,477 780,926 
Equity Bank36,408 42,429 
Federal Home Loan Bank386,022 159,590 
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,
20242023
Balance, beginning of period$8,157 $8,055 
Servicing rights capitalized4,444 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.