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MORTGAGE SERVICING RIGHTS
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
MORTGAGE SERVICING RIGHTS
7. MORTGAGE SERVICING RIGHTS

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

(dollars in thousands)
Balance at December 31, 2022$9,074 
Additions125 
Amortization(356)
Balance at June 30, 2023$8,843 
Balance at December 31, 2021$9,738 
Additions494 
Amortization(863)
Balance at June 30, 2022$9,369 

Income generated as the result of new mortgage servicing rights is reported as gains on sales of loans and totaled $0.1 million and and $0.1 million for the three and six months ended June 30, 2023, respectively, compared to $0.2 million and $0.5 million for the three and six months ended June 30, 2022, respectively.

Amortization of mortgage servicing rights totaled $0.2 million and $0.4 million for the three and six months ended June 30, 2023, respectively, compared to $0.3 million and $0.9 million for the three and six months ended June 30, 2022, respectively.

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

(dollars in thousands)June 30, 2023June 30, 2022
Fair market value, beginning of year$12,061 $10,504 
Fair market value, end of period12,585 12,047 
Weighted average discount rate9.5 %9.5 %
Weighted average prepayment speed assumption10.4 %7.5 %
The carrying values and accumulated amortization related to our mortgage servicing rights are presented below:

 June 30, 2023December 31, 2022
(dollars in thousands)Gross
Carrying
Value		Accumulated
Amortization		Net
Carrying
Value		Gross
Carrying
Value		Accumulated
Amortization		Net
Carrying
Value
Mortgage servicing rights$69,538 $(60,695)$8,843 $69,413 $(60,339)$9,074 
Based on the mortgage servicing rights held as of June 30, 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)$374 
2024807 
2025736 
2026670 
2027607 
2028540 
Thereafter5,109 
Total$8,843 
We perform an impairment assessment of our mortgage servicing rights whenever events or changes in circumstance indicate that the carrying value of the asset may not be recoverable.