($ 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