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MORTGAGE SERVICING RIGHTS (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022									$	9,738
Additions									276
Amortization									(534)
Balance, March 31, 2022									$	9,480
Balance, January 1, 2021									$	11,865
Additions									461
Amortization									(1,232)
Balance, March 31, 2021									$	11,094

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

			March 31, 2022																		December 31, 2021
(dollars in thousands)			Gross Carrying Value						Accumulated Amortization						Net Carrying Value						Gross Carrying Value						Accumulated Amortization						Net Carrying Value
Mortgage servicing rights			$	72,526					$	(63,046)					$	9,480					$	72,250					$	(62,512)					$	9,738

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:

			Three Months Ended						Three Months Ended
(dollars in thousands)			March 31, 2022						March 31, 2021
Fair market value, beginning of period			$	10,504					$	12,003
Fair market value, end of period			11,166						11,673
Weighted average discount rate			9.5		%				9.6		%
Weighted average prepayment speed assumption			18.3		%				17.5		%

Schedule of estimated amortization expense

Based on the mortgage servicing rights held as of March 31, 2022, estimated amortization expense for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter are as follows:

(dollars in thousands)
Year Ending December 31,
2022 (remainder)			$	1,671
2023			1,837
2024			1,506
2025			1,231
2026			1,026
2027			852
Thereafter			1,357
Total			$	9,480

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