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Mortgage Banking and Servicing Rights

12 Months Ended

Dec. 31, 2021

Mortgage Servicing Rights [Abstract]

Note 9: Mortgage Banking and Servicing Rights

Mortgage loans serviced for others are not included in the accompanying balance sheets. The unpaid principal balance of mortgage loans serviced for others approximated $1.4 billion and $1.3 billion at December 31, 2021 and 2020, respectively. Contractually specified servicing fees of approximately $3.1 million and $3.2 million were included in mortgage loan servicing fees in the income statement for the years ended December 31, 2021 and 2020, respectively.

The following table summarizes mortgage servicing rights capitalized and related amortization, along with activity in the related valuation allowance at December 31:

($ in thousands)	2021			2020
Carrying amount, beginning of year	$	7,759		$	11,017
Mortgage servicing rights capitalized during the year		4,724			5,090
Mortgage servicing rights amortization during the year		(3,885	)		(4,762	)
Net change in valuation allowance		3,436			(3,586	)
Carrying amount, end of year	$	12,034		$	7,759

Valuation allowance:
Beginning of year	$	4,892		$	1,306
Increase (reduction)		(3,436	)		3,586
End of year	$	1,456		$	4,892

Fair value, beginning of period	$	7,759		$	11,864
Fair value, end of period	$	12,629		$	7,759