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Servicing Assets and Liabilities | 6 Months Ended
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Jun. 30, 2019
Transfers and Servicing [Abstract] |
Servicing Assets and Liabilities | Servicing Assets and Liabilities The changes in servicing assets and liabilities for the three months ended June 30, 2019 and 2018 were as follows:
| 2019 |  | 2018
| (in thousands)
Servicing assets: |  |  |
Balance at beginning of period | $ | 7,978 |  |  | $ | 9,867 |
Addition related to sale of SBA loans | 344 |  |  | 406 |
Amortization | (755 | ) |  | (1,018 | )
Balance at end of period | $ | 7,567 |  |  | $ | 9,255 |
Servicing liabilities: |  |  |
Balance at beginning of period | $ | 1,420 |  |  | $ | 2,022 |
Amortization | (182 | ) |  | (185 | )
Balance at end of period | $ | 1,238 |  |  | $ | 1,837 |
The changes in servicing assets and liabilities for the six months ended June 30, 2019 and 2018 were as follows:
| 2019 |  | 2018
| (in thousands)
Servicing assets: |  |  |
Balance at beginning of period | $ | 8,520 |  |  | $ | 10,218 |
Addition related to sale of SBA loans | 659 |  |  | 841 |
Amortization | (1,612 | ) |  | (1,804 | )
Balance at end of period | $ | 7,567 |  |  | $ | 9,255 |
Servicing liabilities: |  |  |
Balance at beginning of period | $ | 1,517 |  |  | $ | 2,217 |
Amortization | (279 | ) |  | (380 | )
Balance at end of period | $ | 1,238 |  |  | $ | 1,837 |
At June 30, 2019 and December 31, 2018, we serviced loans sold to unaffiliated parties in the amounts of $426.7 million and $448.6 million, respectively. These represented loans that have been sold for which the Bank continues to provide servicing. These loans are maintained off-balance sheet and are not included in the loans receivable balance. All of the loans serviced were SBA loans. The Company recorded servicing fee income of $1.1 million and $1.2 million for the three months ended June 30, 2019 and 2018, respectively. The Company recorded servicing fee income of $2.2 million and $2.4 million for the six months ended June 30, 2019 and 2018, respectively. Servicing fee income, net of the amortization of servicing assets and liabilities, is included in other operating income in the consolidated statements of income. Net amortization expense was $573,000 and $833,000 for the three months ended June 30, 2019 and 2018, respectively, and $1.3 million and $1.4 million for the six months ended June 30, 2019 and 2018, respectively.

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- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details
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