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Mortgage Servicing Rights
 12 Months Ended
Dec. 31, 2020
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights MORTGAGE SERVICING RIGHTS
Information with respect to the Company’s mortgage servicing rights follows:
Year Ended December 31,202020192018
Balance at beginning of year$30.6 $27.7 $24.8 
Originations of mortgage servicing rights11.7 7.3 6.0 
Amortization expense(8.0)(4.4)(3.1)
Balance at end of year34.3 30.6 27.7 
Less valuation reserve(10.3)(0.4)— 
Balance at end of year, net of valuation reserve$24.0 $30.2 $27.7 
Principal balance of serviced loans underlying mortgage servicing rights
$3,585.5 $3,710.1 $3,698.2 
Mortgage servicing rights as a percentage of serviced loans0.67 %0.81 %0.75 %
At December 31, 2020, the estimated fair value and weighted average remaining life of the Company’s mortgage servicing rights were $24.0 million and 3.9 years, respectively. The fair value of mortgage servicing rights was determined using discount rates ranging from 8.3% to 10.0% and monthly prepayment speeds ranging from 1.2% to 2.5% depending upon the risk characteristics of the underlying loans. At December 31, 2019, the estimated fair value and weighted average remaining life of the Company’s mortgage servicing rights were $34.8 million and 6.0 years, respectively. The fair value of mortgage servicing rights was determined using discount rates ranging from 9.3% to 11.0% and monthly prepayment speeds ranging from 0.6% to 1.5% depending upon the risk characteristics of the underlying loans. There were no material impairments reversed in 2020, 2019 and 2018, respectively. No permanent impairment was recorded in 2020, 2019, or 2018.