Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2021

Transfers and Servicing [Abstract]

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,
	2021			2020
Mortgage servicing rights beginning balance	$	1,806		$	2,172
Additions		553			770
Amortization		(692	)		(767	)
Decrease (increase) in valuation allowance		369			(369	)
Mortgage servicing rights ending balance	$	2,036		$	1,806
Fair value at beginning of period	$	1,806		$	2,404
Fair value at end of period	$	2,477		$	1,806

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, 2021. 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, 2021:
2022	$	419
2023		282
2024		217
2025		181
2026		152
Thereafter		785
Total	$	2,036