MORTGAGE SERVICING RIGHTS

6 Months Ended

Jun. 30, 2020

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

MORTGAGE SERVICING RIGHTS

NOTE 5 - MORTGAGE SERVICING RIGHTS

The following tables provide the balance of the residential mortgage loans serviced for others as well as the balance of mortgage servicing rights associated with those loans. The increase in balances from December 31, 2019 reflected the sale of additional loans to FHLB Boston for which the Bank retained servicing rights.

(in thousands)		June 30, 2020		December 31, 2019
Residential mortgage loans serviced for others	$	110,933	$	106,255
Fair value of mortgage servicing rights		613		813

Changes in mortgage servicing rights are as follows:

		Three months ended						Six months ended
Periods ended June 30, (in thousands)		2020			2019			2020			2019
Mortgage Servicing Rights
Balance, beginning of period	$	255		$	221		$	238		$	228
Originated		110			1			143			5
Amortization (1)		(12	)		(13	)		(28	)		(24	)
Balance, end of period	$	353		$	209		$	353		$	209

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