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Mortgage Banking and Servicing Rights | 12 Months Ended
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Dec. 31, 2024
Mortgage Banking and Servicing Rights [Abstract] |
Mortgage Banking and Servicing Rights | Note 7: Mortgage Banking and 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 $1.4 billion at both December 31, 2024, and 2023. Contractually specified servicing fees of approximately $3.5 million and $3.4 million were included in mortgage loan servicing fees in the consolidated income statement for the years ended December 31, 2024, and 2023, respectively. The following table summarizes mortgage servicing rights capitalized and related amortization, along with activity in the related valuation allowance at December 31:
($ in thousands) |  | 2024 |  |  | 2023 |
Carrying amount, beginning of year |  | $ | 13,906 |  |  | $ | 13,503 |
Mortgage servicing rights capitalized during the year |  |  | 2,256 |  |  |  | 1,695 |
Mortgage servicing rights amortization during the year |  |  | (1,335 | ) |  |  | (1,242 | )
Net change in valuation allowance |  |  | 41 |  |  |  | (50 | )
Carrying amount, end of year |  | $ | 14,868 |  |  | $ | 13,906 |
Valuation allowance: |  |  |  |  |  |  |  |
Beginning of year |  | $ | 227 |  |  | $ | 177 |
Increase (reduction) |  |  | (41 | ) |  |  | 50 |
End of year |  | $ | 186 |  |  | $ | 227 |
Fair value, beginning of period |  | $ | 17,125 |  |  | $ | 15,754 |
Fair value, end of period |  | $ | 17,782 |  |  | $ | 17,125 |

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- Definition The entire disclosure for mortgage notes payable. + References No definition available. + Details
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