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MORTGAGE SERVICING RIGHTS (Tables)

6 Months Ended

Jun. 30, 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 at December 31, 2021									$	9,738
Additions									494
Amortization									(863)
Balance at June 30, 2022									$	9,369
Balance at December 31, 2020									$	11,865
Additions									717
Amortization									(2,082)
Balance at June 30, 2021									$	10,500

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

			June 30, 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			$	72,744					$	(63,375)					$	9,369					$	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:

			Six Months Ended						Six Months Ended
(dollars in thousands)			June 30, 2022						June 30, 2021
Fair market value, beginning of period			$	10,504					$	12,003
Fair market value, end of period			12,047						10,755
Weighted average discount rate			9.5		%				9.6		%
Weighted average prepayment speed assumption			7.5		%				18.0		%

Schedule of estimated amortization expense

Based on the mortgage servicing rights held as of June 30, 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)			$	731
2023			1,301
2024			1,063
2025			868
2026			709
2027			579
Thereafter			4,118
Total			$	9,369

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