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