Note 8 - Servicing Rights

12 Months Ended

Dec. 31, 2014

Disclosure Text Block Supplement [Abstract]

Other Assets Disclosure [Text Block]

8. Servicing Rights

Residential Mortgage-Servicing Rights

The following table summarizes the changes in residential mortgage-servicing rights at the dates and for the periods indicated (in thousands).

	At and for the years ended December 31,
	2014			2013			2012
Mortgage-servicing rights portfolio, net of valuation allowance, beginning of period	$	2,431		$	2,584		$	2,586
Capitalized mortgage-servicing rights		390			612			864
Mortgage-servicing rights portfolio amortization and impairment		(573	)		(765	)		(866	)
Mortgage-servicing rights portfolio, net of valuation allowance, end of period	$	2,248		$	2,431		$	2,584

The estimated fair value of residential mortgage-servicing rights was $3.4 million and $3.8 million at December 31, 2014 and 2013, respectively.

The following table summarizes the activity in the valuation allowance for impairment of the residential mortgage-servicing rights portfolio at the dates and for the periods indicated (in thousands).

	At and for the years ended December 31,
	2014			2013			2012
Valuation allowance, beginning of period	$	31		$	41		$	39
Additions charged (reductions credited) to operations, net		(10	)		(10	)		2
Valuation allowance, end of period	$	21		$	31		$	41

The following table summarizes the estimated future amortization expense of residential mortgage-servicing rights, net of the valuation allowance for impairment, at December 31, 2014 during the periods indicated (in thousands).

For the years ended December 31,
2015	$	661
2016		531
2017		423
2018		333
2019		260
Thereafter		61
	$	2,269

SBA Servicing Rights

The following table summarizes the changes in SBA servicing rights at the dates and for the periods indicated (in thousands).

	At and for the years ended December 31,
	2014			2013			2012
SBA servicing rights portfolio, net of valuation allowance, beginning of period	$	64		$	39		$	-
Capitalized SBA servicing rights		31			47			40
SBA servicing rights portfolio amortization and impairment		(18	)		(22	)		(1	)
SBA servicing rights portfolio, net of valuation allowance, end of period	$	77		$	64		$	39

The estimated fair value of SBA servicing rights was $84 thousand and $69 thousand at December 31, 2014 and 2013, respectively.

The following table summarizes the activity in the valuation allowance for impairment of the SBA servicing rights portfolio at the dates and for the periods indicated (in thousands).

	At and for the year ended
	December 31,
	2014		2013
Valuation allowance, beginning of period	$	8	$	-
Additions charged to operations, net		4		8
Valuation allowance, end of period	$	12	$	8

The following table summarizes the estimated future amortization expense of SBA servicing rights (without regard to the valuation allowance for impairment) at December 31, 2014 during the periods indicated (in thousands).

For the years ended December 31,
2015	$	14
2016		12
2017		11
2018		10
2019		8
Thereafter		34
	$	89