Mortgage Servicing Rights (Tables)

9 Months Ended

Sep. 30, 2019

Transfers and Servicing [Abstract]

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, 2019			Year Ended December 31, 2018
	(in thousands)
Mortgage servicing rights beginning balance	$	2,103		$	2,270
Additions		406			168
Amortization		(308	)		(335	)
Mortgage servicing rights ending balance	$	2,201		$	2,103
Fair value at beginning of period	$	3,371		$	3,158
Fair value at end of period	$	2,407		$	3,371

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, 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.

	(in thousands)
Estimated future amortization as of September 30, 2019:
2019	$	465
2020		436
2021		407
2022		378
2023		347
Thereafter		168
Total	$	2,201