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MORTGAGE SERVICING RIGHTS (Tables)

9 Months Ended

Sep. 30, 2021

OTHER INTANGIBLE ASSETS

Schedule of gross carrying value and accumulated amortization related to intangible assets

The following table presents changes in mortgage servicing rights for the periods presented:

(dollars in thousands)									Mortgage Servicing Rights
Balance, January 1, 2021									$	11,865
Additions									911
Amortization									(2,800)
Balance, September 30, 2021									$	9,976
Balance, January 1, 2020									$	14,718
Additions									2,269
Amortization									(4,558)
Balance, September 30, 2020									$	12,429

The gross carrying value and accumulated amortization related to our mortgage servicing rights are presented below:

			September 30, 2021																		December 31, 2020
(dollars in thousands)			Gross Carrying Value						Accumulated Amortization						Net Carrying Value						Gross Carrying Value						Accumulated Amortization						Net Carrying Value
Mortgage servicing rights			$	71,820					$	(61,844)					$	9,976					$	70,909					$	(59,044)					$	11,865

Schedule of fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights

The following tables present the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights:

			Nine Months Ended						Nine Months Ended
(dollars in thousands)			September 30, 2021						September 30, 2020
Fair market value, beginning of period			$	12,003					$	15,820
Fair market value, end of period			10,352						12,694
Weighted average discount rate			9.6		%				9.6		%
Weighted average prepayment speed assumption			18.0		%				24.3		%

Schedule of estimated amortization expense

Based on the mortgage servicing rights held as of September 30, 2021, estimated amortization expense for the remainder of fiscal year 2021, the next five succeeding fiscal years and all years thereafter are as follows:

(dollars in thousands)
Year Ending December 31,
2021 (remainder)			$	628
2022			2,216
2023			1,776
2024			1,444
2025			1,190
2026			993
Thereafter			1,729
Total			$	9,976

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