OTHER ASSETS

12 Months Ended

Dec. 31, 2022

Year-end other assets are summarized as follows:


(In thousands)	2022		2021
Capitalized servicing rights	$	13,047	$	16,022
Accrued interest receivable	46,868		33,534
Accrued federal and state tax receivable	34,386		30,614
Right-of-use assets	46,411		52,180
Derivative assets	54,241		79,528

Deferred tax asset	118,331		52,620
Other	35,651		23,886
Total other assets	$	348,935	$	288,384

The Bank sells loans in the secondary market and retains the right to service many of these loans. The Bank earns fees for the servicing provided. At years end 2022 and 2021, loans sold and serviced for others amounted to $1.5 billion and $1.6 billion, respectively. For year ended 2020, loans sold and serviced for others from continuing operations amounted to $1.5 billion. For year ended 2020, loans sold and serviced for others from discontinued operations amounted to $0.6 billion. Loans serviced for others are not included in the accompanying Consolidated Balance Sheets. The risks inherent in servicing assets relate primarily to changes in prepayments that result from shifts in interest rates. For the years 2022 and 2021, contractually specified servicing fees were $5.5 million and $8.0 million, respectively, and are included as a component of loan related fees within non-interest income. For the year 2020, contractually specified servicing fees from continuing operations were $5.5 million and are included as a component of loan related fees within non-interest income on the Consolidated Statements of Operations. For the year 2020, contractually specified servicing fees from discontinued operations were $2.1 million and are included as a component of other income in Note 2 - Discontinued Operations. Refer to Note 20 - Fair Value Measurements for significant assumptions and inputs used in the valuation at year-end 2022.

Servicing rights activity was as follows:


(In thousands)	2022		2021		2020
Balance at beginning of year	$	16,022	$	16,348	$	26,451


Additions	3,119		4,568		3,875
Amortization	(4,590)		(4,921)		(3,761)
Payoffs	(958)		—		—

Allowance adjustment	(546)		27		(10,217)

Balance at end of year	$	13,047	$	16,022	$	16,348

(1)As of December 31, 2022 and December 31, 2021, the servicing rights included in the total balance accounted for at fair value were $1.8 million and $2.0 million, respectively.

At December 31, 2022, the fair value of servicing rights was $16.7 million. At December 31, 2021, the fair value of servicing rights was $16.6 million.