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Mortgage Servicing Rights
 9 Months Ended
Sep. 30, 2025
Mortgage Servicing Rights [Abstract]  
MORTGAGE SERVICING RIGHTS

NOTE 7 – 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 $1.47 billion at September 30, 2025, and $1.43 billion at December 31, 2024. Contractually specified servicing fees of $0.9 million and $2.7 million were included in mortgage loan servicing fees in the consolidated income statement for the three and nine months ended September 30, 2025, respectively. Servicing fees of $0.9 million and $2.6 million were included for the three and nine months ended September 30, 2024, respectively.

 

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

 

   Three Months Ended
September 30,		   Nine Months Ended
September 30,		 
($ in thousands)  2025   2024   2025   2024 
                 
Balance at beginning of period  $15,458   $14,548   $14,868   $13,906 
Mortgage servicing rights capitalized during the period   646    644    1,828    1,675 
Mortgage servicing rights amortization during the period   (456)   (370)   (1,218)   (978)
Net change in valuation allowance   (301)   (465)   (131)   (246)
Balance at end of period  $15,347   $14,357   $15,347   $14,357 
                     
Valuation allowance:                    
Balance at beginning of period  $16   $8   $186   $227 
Increase (decrease)   301    465    131    246 
                     
Balance at end of period  $317   $473   $317   $473 
                     
Fair value, beginning of period  $19,108   $18,807   $17,782   $17,125 
Fair value, end of period  $18,315   $18,160   $18,315   $18,160