Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2019

Transfers and Servicing [Abstract]

Schedule of mortgage servicing rights

Mortgage servicing rights for the periods shown are as follows:

	For the Year Ended December 31,
	2019			2018
	(In thousands)
Balance at beginning of period	$	1,044		$	1,095
Additions	75			208
Amortization	(251		)	(256		)
Valuation allowance	3			(3		)
Balance at end of period	$	871		$	1,044

Schedule of assumptions for fair value of mortgage servicing rights

The key economic assumptions used in determining the fair value of mortgage servicing rights for the periods shown are as follows:

	For the Year Ended December 31,
	2019		2018
Constant prepayment rate	11.2	%	15.4	%
Weighted-average life (years)	6.3		5.5
Yield to maturity discount	9.4	%	10.5	%

Schedule of servicing fees and late fees

The following represents servicing and late fees earned in connection with mortgage servicing rights and is included in the accompanying consolidated financial statements as a component of noninterest income for the periods shown:

	For the Year Ended December 31,
	2019		2018
	(In thousands)
Servicing fees	$	424	$	454
Late fees	15		15