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NOTE 5 - MORTGAGE SERVICING RIGHTS
 6 Months Ended
Jun. 30, 2022
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
NOTE 5 - MORTGAGE SERVICING RIGHTS


NOTE 5 - MORTGAGE SERVICING RIGHTS

(in thousands)    June 30, 2022      December 31, 2021  
Residential mortgage loans serviced for others  $140,344   $140,623 
Fair value of mortgage servicing rights   1,338    1,043 

 

Changes in mortgage servicing rights are as follows:

                             
     Three months ended      Six months ended  
Periods ended June 30, (in thousands)    2022      2021      2022      2021  
Mortgage Servicing Rights                    
Balance, beginning of period  $716   $739   $700   $621 
Originated   17    64    72    258 
Amortization (1)   (39)   (55)   (78)   (131)
Balance, end of period  $694   $748   $694   $748 
Valuation Allowance                    
Balance, beginning of period   —    —    —    (9)
Decrease in impairment reserve (1)   —    —    —    9 
Balance, end of period   —    —    —    — 
Mortgage servicing rights, net  $694   $748   $694   $748 
(1)Amortization expense and changes in the impairment reserve are recorded in mortgage banking activities, net.