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GOODWILL, CORE DEPOSIT INTANGIBLES AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets The gross carrying amount of other intangible assets and the associated accumulated amortization at December 31, 2022, and December 31, 2021, are presented in the table below, in thousands:
 December 31, 2022December 31, 2021
 
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Amortizing intangible assets:    
Core deposit intangibles$101,185 $76,031 $25,154 $101,185 $68,330 $32,855 
Customer relationship intangible1,177 1,177 — 1,177 1,044 133 
Mortgage servicing rights13,700 5,860 7,840 12,790 6,378 6,412 
   Commercial servicing rights7,054 7,054 — 7,054 6,576 478 
Total$123,116 $90,122 $32,994 $122,206 $82,328 $39,878 
Schedule of Estimated Future Amortization Expense of Amortizable Intangible Assets
The following table shows the estimated future amortization expense for amortizable intangible assets, in thousands:
 Core Deposit IntangiblesMortgage Servicing Rights
 
 
Total
Year ending December 31, 
2023$6,739 $1,960 $8,699 
20245,591 1,680 7,271 
20254,700 1,400 6,100 
20263,533 1,120 4,653 
20272,601 840 3,441 
Thereafter1,990 840 2,830 
Total$25,154 $7,840 $32,994 
Summary of Changes in Servicing Rights
The following table summarizes, in thousands, the changes in capitalized mortgage servicing rights for the twelve months ended December 31, 2022, and December 31, 2021:
 20222021
Balance at January 1,$6,412 $5,189 
Originations1,425 1,522 
Amortization(1,139)(1,387)
Writedown on mortgage servicing rights(516)— 
Valuation adjustment1,658 1,088 
Balance at December 31,$7,840 $6,412 
Fair value of mortgage servicing rights $7,840 $6,412 
The following table summarizes, in thousands, the changes in capitalized commercial servicing rights for the years ended December 31, 2022, and December 31, 2021:
20222021
Balance at January 1,$478 $863 
Originations— — 
Amortization(478)(385)
Balance at December 31,$— $478 
Fair value of commercial servicing rights$— $782 
Commercial servicing rights, net to servicing portfolio — %1.05 %
Schedule of Servicing Asset at Fair Value and Amortized Cost
The following table summarizes, in thousands, the book value, the fair value of each tranche of the mortgage servicing rights and any recorded valuation allowance at December 31, 2022, and December 31, 2021:
Book Value
15-Year
Tranche
Fair Value
15-Year
Tranche
Valuation
Allowance
15-Year
Tranche
Book Value
30-Year
Tranche
Fair Value
30-Year
Tranche
Valuation
Allowance
30-Year
Tranche
December 31, 2022$1,388 $1,388 $— $6,452 $6,452 $— 
December 31, 2021$1,607 $1,280 $327 $6,463 $5,132 $1,331 
The following table presents key assumptions used to value the mortgage servicing rights as of December 31, 2022 and 2021, dollars in thousands:
As of December 31,
20222021
Weighted average constant prepayment rate7.90 %13.40 %
Weighted average discount rate10.02 %9.02 %
Fair value of mortgage servicing rights $7,840 $6,412