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Loan Servicing | 9 Months Ended
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Sep. 30, 2022
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 $1.6 billion and $1.5 billion at September 30, 2022 and December 31, 2021. The aggregate fair value and carrying value of capitalized mortgage servicing rights was approximately $18.7 million and $15.2 million at September 30, 2022 and December 31, 2021, 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.
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30, |  | September 30, |  | September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Mortgage servicing rights |  |  |  |  |  |  |
Balance, beginning of period | $ | 18,761 |  |  | $ | 17,791 |  |  | $ | 17,780 |  |  | $ | 17,644 |
Servicing rights capitalized | 567 |  |  | 1,048 |  |  | 2,942 |  |  | 3,209 |
Amortization of servicing rights | (624) |  |  | (946) |  |  | (2,018) |  |  | (2,960) |
Balance, end of period | 18,704 |  |  | 17,893 |  |  | 18,704 |  |  | 17,893 |
Impairment allowance |  |  |  |  |  |  |
Balance, beginning of period | — |  |  | (3,329) |  |  | (2,594) |  |  | (5,172) |
Additions | — |  |  | — |  |  | — |  |  | — |
Reductions | — |  |  | 299 |  |  | 2,594 |  |  | 2,142 |
Balance, end of period | — |  |  | (3,030) |  |  | — |  |  | (3,030) |
Mortgage servicing rights, net | $ | 18,704 |  |  | $ | 14,863 |  |  | $ | 18,704 |  |  | $ | 14,863 |
The Bank reduced impairment by approximately $299,000 for the three months ended September 30, 2021, $2.6 million for the nine months ended September 30, 2022 and $2.1 million for the nine months ended September 30, 2021.

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- References No definition available. + Details
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