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MORTGAGE SERVICING RIGHTS | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
MORTGAGE SERVICING RIGHTS | 6. MORTGAGE SERVICING RIGHTS Mortgage loans serviced for others are not reported on the Company's consolidated balance sheets. The following table presents mortgage loans serviced for others by investor, which totaled $1.17 billion and $1.18 billion as of March 31, 2025 and December 31, 2024, respectively.
(dollars in thousands) | March 31, 2025 |  | December 31, 2024
Mortgage loan portfolio serviced for: |  |  |
Federal National Mortgage Association | $ | 716,119 |  |  | $ | 720,070 |
Federal Home Loan Mortgage Corporation | 450,291 |  |  | 457,228 |
Federal Home Loan Bank | 371 |  |  | 444 |
Total loans serviced for others | $ | 1,166,781 |  |  | $ | 1,177,742 |
The following table presents changes in mortgage servicing rights ("MSR") for the periods presented:
(dollars in thousands) |
Balance at December 31, 2024 | $ | 8,473 |
Additions | 137 |
Amortization | (192) |
Balance at March 31, 2025 | $ | 8,418 |
Balance at December 31, 2023 | $ | 8,696 |
Additions | 81 |
Amortization | (178) |
Balance at March 31, 2024 | $ | 8,599 |
The following table presents the fair market value and key assumptions used in determining the fair market value of MSR as of the dates presented:
(dollars in thousands) | March 31, 2025 |  | December 31, 2024 |  |
Fair market value, beginning of year | $ | 12,387 |  |  | $ | 12,185 |  |  |
Fair market value, end of period | 12,079 |  |  | 12,387 |  |  |
Weighted average discount rate | 9.5 | % |  | 9.5 | % |  |
Weighted average prepayment speed assumption | 10.3 |  |  | 10.2 |  |  |
The Company performs an impairment assessment of its MSR whenever events or changes in circumstance indicate that the carrying value of the MSR may not be recoverable. The Company noted no impairment or triggering events related to its MSR as of March 31, 2025.

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