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MORTGAGE SERVICING RIGHTS

12 Months Ended

Dec. 31, 2011

NOTE 4 - MORTGAGE SERVICING RIGHTS

Loans serviced for others are not included in the Consolidated Balance Sheets. Balance of loans serviced for others and the fair value of mortgage servicing rights are as follows:

Years ended December 31, (in thousands)	2011		2010
Residential mortgage loans serviced for others	$	114,800	$	98,247
Fair value of mortgage servicing rights		865		759

Changes in mortgage servicing rights are as follows:

Years ended December 31, (in thousands)	2011			2010			2009
Loan Servicing Rights
Balance, beginning of period	$	683		$	427		$	227
Originated		329			453			367
Amortization (1)		(240	)		(197	)		(167	)
Balance, end of period		772			683			427
Valuation Allowance
Balance, beginning of period		(10	)		(30	)		(118	)
(Increase) decrease in impairment reserve (1)		(12	)		20			88
Balance, end of period		(22	)		(10	)		(30	)
Loan servicing rights, net	$	750		$	673		$	397

(1) Amortization expense and changes in the impairment reserve are recorded in loan servicing fee income.