Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Activity in Mortgage Servicing Rights

The following is a summary of changes in the balance of mortgage servicing rights for the periods indicated below:


	As of December 31,
	2020			2019
Beginning balance	$	2,172		$	2,103
Additions		770			527
Amortization		(767	)		(458	)
Adjustments to valuation allowance		(369	)		—

Ending balances	$	1,806		$	2,172

Fair value at beginning of period	$	2,404		$	3,371

Fair value at end of period	$	1,806		$	2,404

Summary of Estimated Future Amortization Expense for Mortgage Servicing Rights

The following table shows the estimated future amortization of mortgage servicing rights for the next five years. The projections of amortization expense are based on existing asset balances as of as of December 31, 2020. The actual amortization expense the Company recognizes in any given period may be significantly different depending on changes in interest rates, market conditions, and regulatory requirements.


For the period ending December 31, 2021		382
2022		357
2023		334
2024		311
2025		285
Thereafter		137

Total	$	1,806