Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Activity in Mortgage Servicing Rights

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


	Three Months Ended June 30,						Three Months Ended June 30,
	2019			2018			2019			2018
	(dollars in thousands)
Mortgage servicing rights beginning balance	$	2,117		$	2,189		$	2,103		$	2,270
Additions		250			49			329			81
Amortization		(104	)		(75	)		(169	)		(188	)
Mortgage servicing rights ending balance	$	2,263		$	2,163		$	2,263		$	2,163
Fair value at beginning of period	$	3,386		$	3,109		$	3,371		$	3,158
Fair value at end of period	$	2,891		$	3,008		$	2,891		$	3,008

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 June 30, 2019. 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.


Estimated future amortization as of June 30, 2019:	(in thousands)
2019	$	478
2020		449
2021		418
2022		389
2023		356
Thereafter		173

Total	$	2,263