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MORTGAGE SERVICING RIGHTS (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

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)
Balance at December 31, 2022			$	9,074
Additions			58
Amortization			(189)
Balance at March 31, 2023			$	8,943
Balance at December 31, 2021			$	9,738
Additions			276
Amortization			(534)
Balance at March 31, 2022			$	9,480

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

			March 31, 2023																		December 31, 2022
(dollars in thousands)			Gross Carrying Value						Accumulated Amortization						Net Carrying Value						Gross Carrying Value						Accumulated Amortization						Net Carrying Value
Mortgage servicing rights			$	69,471					$	(60,528)					$	8,943					$	69,413					$	(60,339)					$	9,074

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 March 31,
(dollars in thousands)			2023						2022
Fair market value, beginning of period			$	12,061					$	10,504
Fair market value, end of period			11,875						11,166
Weighted average discount rate			9.5		%				9.5		%
Weighted average prepayment speed assumption			10.3		%				18.3		%

Schedule of estimated amortization expense

Based on the mortgage servicing rights held as of March 31, 2023, estimated amortization expense for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter are as follows:

(dollars in thousands)
Year Ending December 31,
2023 (remainder)			$	668
2024			833
2025			756
2026			684
2027			610
2028			548
Thereafter			4,844
Total			$	8,943

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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-Section 50
-Paragraph 2
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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

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-Name Accounting Standards Codification
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