Loan Servicing

12 Months Ended

Dec. 31, 2020

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:

	2020		2019
Mortgage loan portfolio serviced for:
FHLMC	$	430,233	$	276,863

Custodial escrow balances maintained in connection with serviced loans were $3.4 million at December 31, 2020 and $2.2 million at December 31, 2019. 

Mortgage servicing rights are recorded on the balance sheets as other assets.  Activity for mortgage servicing rights for years ended December 31, 2020, 2019 and 2018 are as follows:

	2020			2019			2018
Servicing rights:
Beginning balance	$	1,721		$	1,468		$	1,242
Additions		2,429			813			627
Amortization to expense		(952	)		(560	)		(401	)
Ending balance	$	3,198		$	1,721		$	1,468

There was no valuation allowance required for mortgage servicing rights at December 31, 2020, 2019 and 2018.