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Mortgage Servicing Rights
12 Months Ended
Dec. 31, 2024
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights
7.
Mortgage Servicing Rights

Information related to mortgage servicing rights as of December 31, 2024 and 2023 are summarized as follows:

 

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31,
2024

 

 

December 31,
2023

 

Book value of mortgage servicing rights beginning of period

 

$

2,231

 

 

$

8,900

 

Additions from sale of loans

 

 

508

 

 

 

527

 

Book value removed from sale of servicing rights

 

 

(1,158

)

 

 

(5,433

)

Amortized to expense

 

 

(503

)

 

 

(1,763

)

Book value of mortgage servicing rights end of period

 

$

1,078

 

 

$

2,231

 

 

 

 

 

 

 

Fair value of mortgage servicing rights

 

$

1,945

 

 

$

6,934

 

Principal balance of mortgage loans serviced for others not reported as assets

 

$

211,246

 

 

$

986,192

 

Custodial escrows of serviced loans

 

$

3,358

 

 

$

8,794