XML 34 R16.htm IDEA: XBRL DOCUMENT v3.25.0.1
Mortgage Banking and Servicing Rights
 12 Months Ended
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