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MORTGAGE SERVICING RIGHTS (Tables)

6 Months Ended

Jun. 30, 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			125
Amortization			(356)
Balance at June 30, 2023			$	8,843
Balance at December 31, 2021			$	9,738
Additions			494
Amortization			(863)
Balance at June 30, 2022			$	9,369

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

			June 30, 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			$	69,538					$	(60,695)					$	8,843					$	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:

(dollars in thousands)			June 30, 2023						June 30, 2022
Fair market value, beginning of year			$	12,061					$	10,504
Fair market value, end of period			12,585						12,047
Weighted average discount rate			9.5		%				9.5		%
Weighted average prepayment speed assumption			10.4		%				7.5		%

Schedule of estimated amortization expense

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
2024			807
2025			736
2026			670
2027			607
2028			540
Thereafter			5,109
Total			$	8,843

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- 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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- Definition

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

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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.

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