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Loan Servicing | 3 Months Ended
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Mar. 31, 2021
Payments for (Proceeds from) Mortgage Servicing Rights [Abstract] |
Loan Servicing | Loan Servicing Loans serviced for others are not included in the accompanying condensed consolidated balance sheets. The unpaid principal balances of loans serviced for others totaled approximately $1.532 billion and $1.527 billion at March 31, 2021 and December 31, 2020. The aggregate fair value of capitalized mortgage servicing rights was approximately $12.9 million and $12.5 million at March 31, 2021 and December 31, 2020, compared to the carrying values of $12.9 million and $12.5 million at March 31, 2021 and December 31, 2020, respectively. Comparable market values and a valuation model that calculates the present value of future cash flows were used to estimate fair value. For purposes of measuring impairment, risk characteristics including product type, investor type and interest rates, were used to stratify the originated mortgage servicing rights.
|  | March 31, |  | December 31,
|  | 2021 |  | 2020
Mortgage servicing rights |  |  |  |
Balance, beginning of period |  | $ | 17,644 |  |  | $ | 15,046 |
Servicing rights capitalized |  | 1,130 |  |  | 5,530 |
Amortization of servicing rights |  | (962) |  |  | (2,932) |
Balance, end of period |  | 17,812 |  |  | 17,644 |
Impairment allowance |  |  |  |
Balance, beginning of period |  | (5,172) |  |  | (719) |
Additions |  | — |  |  | (5,106) |
Reductions |  | 235 |  |  | 653 |
Balance, end of period |  | (4,937) |  |  | (5,172) |
Mortgage servicing rights, net |  | $ | 12,875 |  |  | $ | 12,472 |
The Bank reduced impairment by approximately $235,000 for the three months ended March 31, 2021. The Bank recorded additional impairment of approximately $4.5 million for the year ended December 31, 2020.

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