MORTGAGE SERVICING RIGHTS

12 Months Ended

Dec. 31, 2015

Mortgage Loans on Real Estate [Abstract]

MORTGAGE SERVICING RIGHTS

NOTE 5 - MORTGAGE SERVICING RIGHTS

Loans serviced for others are not included in the consolidated balance sheets. Balances of loans serviced for others and the fair value of mortgage servicing rights are as follows:

December 31, (in thousands)		2015		2014
Residential mortgage loans serviced for others	$	130,816	$	138,106
Fair value of mortgage servicing rights		1,315		1,568

Changes in mortgage servicing rights are as follows:

Years ended December 31, (in thousands)		2015			2014			2013
Mortgage Servicing Rights
Balance, beginning of period	$	694		$	980		$	1,075
Originated		148			17			294
Amortization (1)		(356	)		(303	)		(389	)
Balance, end of period		486			694			980
Valuation Allowance
Balance, beginning of period		—			(15	)		(38	)
(Increase) decrease  in impairment reserve (1)		(3	)		15			23
Balance, end of period		(3	)		—			(15	)
Mortgage servicing rights, net	$	483		$	694		$	965

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