Loan Servicing

12 Months Ended

Dec. 31, 2022

Transfers and Servicing [Abstract]

Loan Servicing

NOTE 6 – LOAN SERVICING

The Company has retained servicing rights to Mortgage loans sold to the Federal Home Loan Mortgage Corporation. Mortgage loans serviced for others are not reported as assets. The principal balances of these loans at year-end are as follows:

	2022		2021
Mortgage loan portfolio serviced for:
FHLMC	$	532,868	$	494,688

Custodial escrow balances maintained in connection with serviced loans were $4.4 million at December 31, 2022 and $4.0 million at December 31, 2021.

Mortgage servicing rights are recorded on the balance sheets as other assets. Activity for mortgage servicing rights for years ended December 31, 2022, 2021 and 2020 are as follows:

	2022			2021			2020
Servicing rights:
Beginning balance	$	3,403		$	3,198		$	1,721
Additions		960			1,556			2,429
Amortization to expense		(1,015	)		(1,351	)		(952	)
Total servicing rights	$	3,348		$	3,403		$	3,198
Valuation allowance		(17	)		0			0
Ending balance	$	3,331		$	3,403		$	3,198