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MORTGAGE SERVICING RIGHTS (Tables)

9 Months Ended

Sep. 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									593
Amortization									(1,115)
Balance at September 30, 2022									$	9,216
Balance at December 31, 2020									$	11,865
Additions									911
Amortization									(2,800)
Balance at September 30, 2021									$	9,976

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

			September 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			$	72,843					$	(63,627)					$	9,216					$	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:

			Nine Months Ended						Nine Months Ended
(dollars in thousands)			September 30, 2022						September 30, 2021
Fair market value, beginning of period			$	10,504					$	12,003
Fair market value, end of period			12,289						10,352
Weighted average discount rate			9.5		%				9.6		%
Weighted average prepayment speed assumption			9.9		%				18.0		%

Schedule of estimated amortization expense

Based on the mortgage servicing rights held as of September 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)			$	287
2023			1,528
2024			1,380
2025			1,114
2026			904
2027			724
Thereafter			3,279
Total			$	9,216

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