Loan Servicing (Tables)

12 Months Ended

Dec. 31, 2023

Loan Servicing

Summary of activity related to loan servicing

	Year ended
	December 31,
(dollars in thousands)	2023		2022		2021
Servicing Assets:
Balance at beginning of year	$	2,643	$	1,880	$	1,987
Additions (1)		300		1,538		1,553
Amortization (2)		(595)		(524)		(745)
Balance at end of year		2,348		2,894		2,795
Less valuation reserve (3)		(296)		(251)		(915)
Balance at end of year, net of valuation reserve	$	2,052	$	2,643	$	1,880
Fair value, beginning of year	$	2,314	$	1,892	$	2,137
Fair value, end of year	$	2,062	$	2,314	$	1,892

(1) Associated income was reported within mortgage banking income, net on the consolidated statements of income.

(2) Associated amortization expense was reported within other noninterest income on the consolidated statements of income.

(3) Associated valuation reserve was reported within mortgage and lending expenses on the consolidated statements of income.

Summary of key economic assumptions

	December 31,			December 31,
(dollars in thousands)	2023			2022
Fair value of servicing rights	$	2,052		$	2,643
Weighted-average remaining term, years		18.8			20.5
Prepayment speeds		6.2	%		6.9	%
Discount rate		11.1	%		10.5	%