Loan Servicing

9 Months Ended

Sep. 30, 2024

Payments for (Proceeds from) Mortgage Servicing Rights [Abstract]

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 $1.44 billion and $1.479 billion at September 30, 2024 and December 31, 2023.

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. Mortgage servicing rights are included in other assets on the balance sheets as of September 30, 2024 and December 31, 2023.


	Three Months Ended			Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
		2024		2023		2024		2023
Mortgage servicing rights
Balance, beginning of period		$	18,432	$	18,507	$	18,807	$	18,619
Servicing rights capitalized		398		428		956		863
Amortization of servicing rights		(502)		(285)		(1,435)		(832)
Balance, end of period		18,328		18,650		18,328		18,650
Impairment allowance
Balance, beginning of period		—		—		—		—
Additions		—		—		—		—
Reductions		—		—		—		—
Balance, end of period		—		—		—		—
Mortgage servicing rights, net		$	18,328	$	18,650	$	18,328	$	18,650

Fair value, beginning of period		$	19,091	$	19,659	$	19,891	$	18,619
Fair value, end of period		18,449		19,571		18,449		19,571