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Other assets
12 Months Ended
Dec. 31, 2023
Other assets  
Other assets

7. Other assets:

The major components of other assets at December 31, 2023 and 2022 are summarized as follows:

 

(Dollars in thousands)

    

December 31, 2023

    

December 31, 2022

 

Other real estate owned

$

$

121

Mortgage servicing rights

 

870

 

914

Prepaid shares tax

 

949

 

48

Prepaid pension

 

3,764

 

2,314

Prepaid expenses

4,840

3,038

Restricted equity securities (FHLB and other)

5,180

9,630

Investment in low income housing partnership

 

5,015

 

5,446

Interest rate swaps

19,278

21,794

Interest rate floor

1

Other assets

2,353

2,765

Total

$

42,249

$

46,071

Interest rate swaps balance represents the fair value of our commercial loan back-to-back swaps and is lower due to lower market rates. The Company originates one-to-four family residential mortgage loans for sale in the secondary market with servicing rights retained. Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of mortgage loans serviced for others were $134.9 million at December 31, 2023 and $144.7 million at December 31, 2022.