Note 17: Loan Servicing

Loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of these loans consist of the following:


	2019		2018
Loans serviced for
Freddie Mac	$	403,111	$	365,863
Fannie Mae		62,958		75,162
FHLB		46,759		54,399
Other investors		1,246		1,176
	$	514,074	$	496,600

The aggregate fair value of capitalized mortgage servicing rights is based on comparable market values and expected cash flows, with impairment assessed based on portfolio characteristics including product type and interest rates. The amount of servicing fees collected during 2019, 2018 and 2017 totaled approximately $1.3 million, $1.1 million, and $783,000, respectively.


	2019		2018		2017
Mortgage-servicing rights
Balances, January 1	$	2,671	$	1,504	$	1,351
Mortgage-servicing rights acquired		-		1,325		-
Servicing rights capitalized		818		438		549
Amortization of servicing rights		(673)		(596)		(396)
	$	2,816	$	2,671	$	1,504

The fair value of servicing rights subsequently measured using the amortization method was as follows:


	2019		2018		2017
Mortgage-servicing rights
Fair value, beginning of period	$	3,518	$	2,246	$	2,110
Fair value, end of period		3,436		3,518		2,246