XML 24 R14.htm IDEA: XBRL DOCUMENT

Mortgage Servicing Rights

3 Months Ended

Mar. 31, 2023

Mortgage Servicing Rights [Abstract]

NOTE 6 – MORTGAGE SERVICING RIGHTS

Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balance of mortgage loans serviced for others approximated $1.34 billion at March 31, 2023 and $1.35 billion at December 31, 2022. Contractually specified servicing fees of $0.8 million and $0.9 million were included in mortgage loan servicing fees in the consolidated income statement for the three months ended March 31, 2023 and 2022, respectively.

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

	Three Months Ended March 31,
($ in thousands)	2023			2022

Carrying amount, beginning of year	$	13,503		$	12,034
Mortgage servicing rights capitalized during the year		280			758
Mortgage servicing rights amortization during the year		(291	)		(547	)
Net change in valuation allowance		56			890
Carrying amount, end of year	$	13,548		$	13,135

Valuation allowance:
Beginning of year	$	177		$	1,456
Increase (reduction)		(56	)		(890	)
End of year	$	121		$	566

Fair value, beginning of period	$	15,754		$	12,629
Fair value, end of period	$	16,911		$	14,433