MORTGAGE SERVICING RIGHTS

3 Months Ended

Mar. 31, 2018

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

MORTGAGE SERVICING RIGHTS

NOTE 4 - MORTGAGE SERVICING RIGHTS

(in thousands)		March 31, 2018		December 31, 2017
Residential mortgage loans serviced for others	$	116,096	$	117,538
Fair value of mortgage servicing rights		1,048		1,010

Changes in mortgage servicing rights are as follows:

Three months ended March 31, (in thousands)		2018			2017
Mortgage Servicing Rights
Balance, beginning of period	$	233		$	339
Originated		6			25
Amortization (1)		(11	)		(68	)
Balance, end of period	$	228		$	296
Valuation Allowance
Balance, beginning of period	$	—		$	(23	)
Increase in impairment reserve (1)		—			(2	)
Balance, end of period		—			(25	)
Mortgage servicing rights, net	$	228		$	271

(1) Amortization expense and changes in the impairment reserve are recorded in mortgage servicing, net, in the consolidated statements of income.