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MORTGAGE SERVICING RIGHTS
 12 Months Ended
Dec. 31, 2021
MORTGAGE SERVICING RIGHTS [Abstract]  
MORTGAGE SERVICING RIGHTS
7.
MORTGAGE SERVICING RIGHTS

The following table reflects the changes in fair value of the Company’s mortgage servicing rights asset included in the Consolidated Balance Sheets, and other information related to the serviced portfolio:

   
2021
    
2020
    
2019
  
Beginning balance
  
$
9,049
    
$
2,054
    
$
1,270
  
Additions
    
9,196
      
9,829
      
1,332
  
Valuation adjustment
    
1,455
      
(2,834
)
    
(548
)
Ending balance
  
$
19,700
    
$
9,049
    
$
2,054
  

                   
Mortgage loans serviced for others
  
$
1,953,095
    
$
1,203,687
    
$
247,326
  
Mortgage servicing rights asset as a percentage of serviced mortgage loans
    
1
%
    
1
%
    
1
%

The following table reflects the key assumptions used in measuring the fair value of the Company’s mortgage servicing rights:

   
2021
    
2020
  
Weighted average constant prepayment rate
    
12.35
%
    
18.16
%
Weighted average discount rate
    
9.14
%
    
9.72
%
Weighted average life in years
    
6.03
      
4.48