Mortgage Servicing Rights |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage Servicing Rights | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage Servicing Rights | Note 7: Mortgage Servicing Rights Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of mortgage loans serviced for others was $20,469 and $21,650 at June 30, 2025 and December 31, 2024, respectively. The following summarizes the activity in mortgage servicing rights measured using the fair value method for the three and six months ended June 30, 2025 and December 31, 2024:
The estimated fair value of mortgage servicing rights is determined using a valuation model that calculates the present value of expected future servicing and ancillary income, net of expected servicing costs. The model incorporates various assumptions, such as discount rates and prepayment speeds based on market data from independent organizations. Information about the estimated fair value of mortgage servicing rights at June 30, 2025 and December 31, 2024 follows:
Management did not utilize a valuation model to calculate the fair value of mortgage servicing rights at June 30, 2025 but Management determined the change in fair value was not significant to the consolidated financial statements as of June 30, 2025.
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