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Mortgage Banking and Servicing Rights (Tables) | 12 Months Ended
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Dec. 31, 2022
Mortgage Banking and Servicing Rights [Abstract] |
Components of Mortgage Banking Income | The following table presents the components of mortgage banking income:
(in thousands) Year Ended December 31 |  | 2022 |  |  | 2021 |  |  | 2020 |
Net gain on sale of mortgage loans held for sale |  | $ | 1,525 |  |  | $ | 6,820 |  |  | $ | 7,226 |
Net loan servicing income: |  |  |  |  |  |  |  |  |  |  |  |
Servicing fees |  |  | 2,226 |  |  |  | 2,058 |  |  |  | 1,515 |
Late fees |  |  | 78 |  |  |  | 67 |  |  |  | 52 |
Ancillary fees |  |  | 94 |  |  |  | 848 |  |  |  | 1,310 |
Fair value adjustments |  |  | 1,069 |  |  |  | 428 |  |  |  | (1,064 | )
Net loan servicing income |  |  | 3,467 |  |  |  | 3,401 |  |  |  | 1,813 |
Mortgage banking income |  | $ | 4,992 |  |  | $ | 10,221 |  |  | $ | 9,039 |
Activity for Capitalized MSRs Using Fair Value Method | Activity for capitalized MSRs using the fair value method is as follows:
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Fair value of MSRs, beginning of year |  | $ | 6,774 |  |  | $ | 4,068 |  |  | $ | 3,263 |
New servicing assets created |  |  | 625 |  |  |  | 2,278 |  |  |  | 1,869 |
Change in fair value during the year due to: |  |  |  |  |  |  |  |  |  |  |  |
Time decay (1) |  |  | (450 | ) |  |  | (259 | ) |  |  | (135 | )
Payoffs (2) |  |  | (429 | ) |  |  | (587 | ) |  |  | (766 | )
Changes in valuation inputs or assumptions (3) |  |  | 1,948 |  |  |  | 1,274 |  |  |  | (163 | )
Fair value of MSRs, end of year |  | $ | 8,468 |  |  | $ | 6,774 |  |  | $ | 4,068 |
(1) | Represents decrease in value due to regularly scheduled loan principal payments and partial loan paydowns.
(2) | Represents decrease in value due to loans that paid off during the period.
(3) | Represents change in value resulting from market-driven changes in interest rates.

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- Definition Tabular disclosure of components of mortgage banking income. + References No definition available. + Details
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- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 + Details
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