SERVICING RIGHTS (Tables)

12 Months Ended

Dec. 31, 2019

SERVICING RIGHTS

Summary of mortgage servicing rights capitalized and amortized

The following summarizes the fair value and net present value of the mortgage servicing rights capitalized and amortized. There was no valuation allowance required (dollars in thousands):

	December 31,		December 31,
	2019		2018
Balance at beginning of period	$	1,144	$	1,033
Final purchase accounting entry for FFNM		500		18
Additions from loans sold with servicing retained		95		—
Acquired MSRs		—		539
Amortization		(240)		(446)
Balance at end of period (included in Other Assets)	$	1,499	$	1,144
Balance of loan servicing portfolio	$	255,757	$	293,771
Mortgage servicing rights as % of portfolio		0.59%		0.39%
Fair value of servicing rights	$	2,159	$	2,898