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Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Intangible Assets |
Intangible Assets | (6) Intangible Assets Mortgage Servicing Rights At December 31, 2020 the Company was servicing $292.7 million of loans sold to the secondary market compared to $271.4 million and $279.9 million at December 31, 2019 and 2018, respectively. Mortgage loan servicing fees, reported in real estate servicing fees, net, earned on loans sold and serviced for others were $854,000, $778,000, and $821,000, for the years ended December 31, 2020, 2019, and 2018, respectively. The table below presents changes in mortgage servicing rights (MSRs) for the years ended December 31, 2020, 2019, and 2018. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2020 |  | 2019 |  | 2018
Balance at beginning of period | ​ | $ | 2,482 | ​ | $ | 2,931 | ​ | $ | 2,713
Originated mortgage servicing rights | ​ |  | 866 | ​ |  | 290 | ​ |  | 245
Changes in fair value: | ​ |  |  | ​ |  |  | ​ |  |
Due to changes in model inputs and assumptions (1) | ​ |  | (422) | ​ |  | (434) | ​ |  | 286
Other changes in fair value (2) | ​ |  | (481) | ​ |  | (305) | ​ |  | (313)
Total changes in fair value | ​ | ​ | (903) | ​ | ​ | (739) | ​ | ​ | (27)
Balance at end of period | ​ | $ | 2,445 | ​ | $ | 2,482 | ​ | $ | 2,931
​
(1) | The change in fair value resulting from changes in valuation inputs or assumptions used in the valuation model reflects the change in discount rates and prepayment speed assumptions primarily due to changes in interest rates.
(2) | Other changes in fair value reflect changes due to customer payments and passage of time.
Total changes in fair value are reported in real estate servicing fees, net, reported in non-interest income in the Company's consolidated statements of income. The following key data and assumptions were used in estimating the fair value of the Company's mortgage servicing rights as of December 31, 2020 and 2019: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |
Weighted average constant prepayment rate | ​ | 15.74 | % | 13.42 | %
Weighted average note rate | ​ | 3.55 | % | 3.93 | %
Weighted average discount rate | ​ | 7.75 | % | 8.61 | %
Weighted average expected life (in years) | ​ | 4.8 |  | 4.8 | ​
​

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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