(6) Servicing Asset

An analysis of the servicing asset for the years ended December 31, 2015, 2014 and 2013 is as follows (in thousands):


	Years Ended December 31,
	2015			2014			2013
Balance at beginning of year	$	701		$	4,178		$	4,568
Acquired		214			—			—
Capitalized mortgage servicing rights		—			286			995
Amortization		(245	)		(1,016	)		(1,385	)
Mortgage servicing rights sold		(81	)		(2,747	)		—

Balance at end of year	$	589		$	701		$	4,178

Loans serviced for others amounted to $158.2 million and $197.8 million at December 31, 2015 and 2014, respectively, all of which relate to residential loans. At December 31, 2015, the servicing asset had an estimated fair value of $1.1 million and was valued based on expected future cash flows, considering a weighted average discount rate of 10.0%, a weighted average constant prepayment rate on mortgages of 10.1% and a weighted average life of 8.2 years. At December 31, 2014, the servicing asset had an estimated fair value of $1.1 million and was valued based on expected future cash flows considering a weighted average discount rate of 9.7%, a weighted average constant prepayment rate on mortgages of 11.9% and a weighted average life of 7.3 years. As of December 31, 2015, estimated future servicing amortization through 2020 based on the prepayment assumptions utilized in the December 31, 2015 valuation, is as follows: $149,000 for 2016, $83,000 for 2017, $57,000 for 2018, $42,000 for 2019 and $31,000 for 2020. Actual results will vary depending upon the level of repayments on the loans currently serviced.