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MORTGAGE OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2019
MORTGAGE OPERATIONS [Abstract]  
Key Assumptions Used in Measuring the Fair Value of Mortgage Servicing Rights
Key assumptions used in measuring the fair value of mortgage servicing rights as of June 30, 2019 and December 31, 2018 were as follows:

 
June 30, 2019
 
December 31, 2018
 
 
    
Constant prepayment rate
  
9.97
%
  
8.58
%
Discount rate
  
10.01
%
  
10.01
%
Weighted average life (years)
  
6.20
   
6.79
 
Mortgage Servicing Rights Assets
The following table summarizes the Company’s mortgage servicing rights assets as of June 30, 2019 and December 31, 2018.  Mortgage servicing rights are included in Interest Receivable and Other Assets on the condensed consolidated balance sheets:

 
 
(in thousands)
 
 
 
December 31, 2018
  
Additions
  
Reductions
  
June 30, 2019
 
 
            
Mortgage servicing rights
 
$
1,579
  
$
59
  
$
(138
)
 
$
1,500
 
Valuation allowance
  
—
   
—
   
—
   
—
 
Mortgage servicing rights, net of valuation allowance
 
$
1,579
  
$
59
  
$
(138
)
 
$
1,500