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Mortgage Servicing Rights, Net
 3 Months Ended
Mar. 31, 2023
Mortgage Servicing [Abstract]  
Transfers and Servicing of Financial Assets [Text Block]
NOTE 6: MORTGAGE SERVICING
 
RIGHTS, NET
 
Mortgage servicing rights (“MSRs”) are recognized based on the fair value of the
 
servicing rights on the date the
corresponding mortgage loans are sold.
 
An estimate of the Company’s MSRs is determined
 
using assumptions that market
participants would use in estimating future net servicing income, including estimates
 
of prepayment speeds, discount rate,
default rates, cost to service, escrow account earnings, contractual servicing
 
fee income, ancillary income, and late fees.
 
Subsequent to the date of transfer, the Company
 
has elected to measure its MSRs under the amortization method.
 
Under
the amortization method, MSRs are amortized in proportion to, and over the period
 
of, estimated net servicing income.
 
Increases in market interest rates generally increase the fair value of MSRs by reducing
 
prepayments and refinancings and
therefore reducing the prepayment speed.
The Company has recorded MSRs related to loans sold to Fannie Mae.
 
The Company generally sells conforming, fixed-
rate, closed-end, residential mortgages to Fannie Mae.
 
MSRs are included in other assets on the accompanying
consolidated balance sheets.
The Company evaluates MSRs for impairment on a quarterly basis.
 
Impairment is determined by stratifying MSRs into
groupings based on predominant risk characteristics, such as interest rate and loan type.
 
If, by individual stratum, the
carrying amount of the MSRs exceeds fair value, a valuation allowance is established.
 
The valuation allowance is adjusted
as the fair value changes.
 
Changes in the valuation allowance are recognized in earnings
 
as a component of mortgage
lending income.
 
The change in amortized MSRs and the related valuation allowance for the quarters
 
ended March 31, 2023 and 2022 are
presented below.
Quarter ended March 31,
(Dollars in thousands)
2023
2022
MSRs, net:
Beginning balance
$
1,151
$
1,309
Additions, net
—
54
Amortization expense
(55)
(78)
Ending balance
$
1,096
$
1,285
Valuation
 
allowance included in MSRs, net:
Beginning of period
$
—
$
—
End of period
—
—
Fair value of amortized MSRs:
Beginning of period
$
2,369
$
1,908
End of period
2,419
2,277