Mortgage Servicing Rights |
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 were $18,002 and $18,881 at June 30, 2026 and December 31, 2025, respectively. The following summarizes the activity in mortgage servicing rights measured using the fair value method for the six months ended June 30, 2026 and for the year ended December 31, 2025:
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, 2026 and December 31, 2025 follows:
Management did not utilize a valuation model to calculate the fair value of mortgage servicing rights at June 30, 2026 but Management determined the change in fair value was not significant to the consolidated financial statements as of June 30, 2026. (1)Prepayment speeds measured in the Public Securities Associate Standard prepayment model (PSA). PSA is the assumed monthly rate of prepayment that is annualized to the outstanding principal balance of a mortgage loan.
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