Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2023

Transfers and Servicing [Abstract]

Summary of Changes in Balance of Mortgage Servicing Rights

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

	Year Ended December 31, 2023			Year Ended December 31, 2022
	(in thousands)
Mortgage servicing rights beginning balance	$	1,860		$	2,036
Additions		52			68
Amortization		(192	)		(244	)
Mortgage servicing rights ending balance	$	1,720		$	1,860
Fair value at beginning of period	$	3,376		$	2,477
Fair value at end of period	$	3,269		$	3,376

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, 2023. 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.

Estimated future amortization as of December 31, 2023:	(in thousands)
2024	$	206
2025		190
2026		170
2027		149
2028		128
Thereafter		877
Total	$	1,720