Three Months Ended March 31,

($ in thousands)

2022

2021

Balance at beginning of period

$

12,034

$

7,759

Mortgage servicing rights capitalized during the period

758

1,212

Mortgage servicing rights amortization during the period

(547

)

(1,187

)

Net change in valuation allowance

890

2,706

Balance at end of period

$

13,135

$

10,490

Valuation allowance:

Balance at beginning of period

$

1,456

$

4,892

Increase (decrease)

(890

)

(2,706

)

Balance at end of period

$

566

$

2,186

Fair value, beginning of period

$

12,629

$

7,759

Fair value, end of period

$

14,433

$

11,160