Loan Servicing (Tables)

6 Months Ended

Jun. 30, 2024

Loan Servicing

Summary of activity related to loan servicing

	Three months ended				Six months ended
	June 30,				June 30,
(dollars in thousands)	2024		2023		2024		2023
Servicing Assets:
Balance at beginning of period	$	1,983	$	2,421	$	2,052	$	2,643
Additions, net of valuation reserve (1)		320		312		341		274
Amortization (2)		(133)		(134)		(223)		(318)
Balance at end of period		2,170		2,599		2,170		2,599
Less valuation reserve (3)		(207)		(248)		(207)		(248)
Balance at end of period, net of valuation reserve	$	1,963	$	2,351	$	1,963	$	2,351
Fair value, beginning of period	$	2,083	$	2,421	$	2,062	$	2,643
Fair value, end of period	$	2,082	$	2,351	$	2,082	$	2,351

(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

	June 30,			December 31,
(dollars in thousands)	2024			2023
Fair value of servicing rights	$	2,082		$	2,062
Weighted-average remaining term, years		18.9			18.8
Prepayment speeds		6.3	%		6.2	%
Discount rate		11.1	%		11.1	%