Loan Servicing (Tables)

12 Months Ended

Dec. 31, 2013

The unpaid principal balances of these loans as of December 31 of the years indicated are summarized as follows:


*(dollars in thousands)*	2013		2012		2011
Mortgage loans sold to Federal Home Loan Mortgage Corporation without recourse	$	13,325	$	16,755	$	23,832
Mortgage loans sold to Federal National Mortgage Association without recourse		106,597		116,352		112,693

Balance, end of period	$	119,922	$	133,107	$	136,525

Activity related to servicing assets for the years ended December 31, 2013, 2012 and 2011 is summarized as follows.


*(dollars in thousands)*	2013			2012			2011
Balance at the beginning of the year	$	611		$	545		$	145
Recognition of servicing assets from the transfer of financial assets ⁽¹⁾		101			261			529
Amortization		(196	)		(195	)		(129	)


Balance, end of period	$	516		$	611		$	545

Fair value, end of period	$	1,009		$	1,995		$	1,811

⁽²⁾	Includes $404,000 acquired in 2011 from the acquisition of GSFC.