Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2024

Transfers and Servicing [Abstract]

Summary of Activity in Mortgage Servicing Rights

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

	Three Months Ended June 30, 2024			Three Months Ended June 30, 2023			Six Months Ended June 30, 2024			Six Months Ended June 30, 2023
	(in thousands)						(in thousands)
Mortgage servicing rights beginning balance	$	1,690		$	1,824		$	1,720		$	1,860
Additions		23			8			30			17
Amortization		(49	)		(55	)		(86	)		(100	)
Mortgage servicing rights ending balance	$	1,664		$	1,777		$	1,664		$	1,777
Fair value at beginning of period	$	3,240		$	3,488		$	3,269		$	3,376
Fair value at end of period	$	3,237		$	3,317		$	3,237		$	3,317

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 annual periods indicated. The projections of amortization expense are based on existing asset balances as of June 30, 2024. The actual amortization expense the Company 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, 2024:	(in thousands)
2024	$	98
2025		192
2026		175
2027		155
2028		133
Thereafter		911
Total	$	1,664