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NOTE 5 - MORTGAGE SERVICING RIGHTS
 9 Months Ended
Sep. 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)    September 30, 2022      December 31, 2021  
Residential mortgage loans serviced for others  $135,656   $140,623 
Fair value of mortgage servicing rights   1,401    1,043 

 

Changes in mortgage servicing rights are as follows:

                             
     Three months ended      Nine months ended  
Periods ended September 30, (in thousands)    2022      2021      2022      2021  
Mortgage Servicing Rights                    
Balance, beginning of period  $694   $748   $700   $621 
Originated   —    18    72    276 
Amortization (1)   (39)   (36)   (117)   (167)
Balance, end of period  $655   $730   $655   $730 
Valuation Allowance                    
Balance, beginning of period   —    —    —    (9)
Decrease in impairment reserve (1)   —    —    —    9 
Balance, end of period   —    —    —    — 
Mortgage servicing rights, net  $655   $730   $655   $730 
                     
(1)Amortization expense and changes in the impairment reserve are recorded in mortgage banking activities, net.