Mortgage Servicing RightsI (Tables)

9 Months Ended

Sep. 30, 2018

Summary of Activity in Mortgage Servicing Rights

A summary of activity in the Bank’s mortgage servicing rights is presented below:


	Nine Months Ended September 30,
	2018			2017
	(in thousands)
Mortgage servicing rights beginning balance	$	2,270		$	2,421
Additions		131			168
Amortization		(264	)		(269	)
Sales		—			—

Mortgage servicing rights ending balance		2,137			2,320

Valuation allowance		—			—

Mortgage servicing rights ending balance, net	$	2,137		$	2,320

Summary of Estimated Future Amortization Expense for Mortgage Servicing Rights

The following table summarizes the estimated future amortization expense for mortgage servicing rights for the periods indicated. The projections of amortization expense are based on existing asset balances as of September 30, 2018. The actual amortization expense the Bank recognizes in any given period may vary significantly depending on changes in interest rates, market conditions and regulatory requirements.


	(in thousands)
Estimated future amortization as of September 30, 2018:
2018	$	187
2019		412
2020		386
2021		360
2022		335
Thereafter		457

Total	$	2,137