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Loan Servicing
 12 Months Ended
Dec. 31, 2014
Loans [Abstract]  
Loan Servicing

 

NOTE 7 – LOAN SERVICING

Mortgage loans serviced for others are not reported as assets.  The principal balances of these loans at year-end were as follows:

 

 

 

 

 

 

 

2014

 

2013

 

 

 

 

 

 

Mortgage loans serviced for Freddie Mac

$
6,560 

 

$
8,243 

 

Custodial escrow balances maintained in connection with serviced loans were $178 and $166 at year-end 2014 and 2013, respectively.

 

Activity for mortgage servicing rights and the related valuation allowance follows:

 

 

 

 

 

 

 

 

 

 

2014

 

2013

 

2012

 

 

 

 

 

 

 

 

 

Servicing rights, net of valuation allowance:

 

 

 

 

 

 

 

 

Beginning of year

$
20 

 

$
29 

 

$
37 

Additions

 

 -

 

 

 -

 

 

 -

Amortized to expense

 
(5)

 

 
(9)

 

 
(9)

Change in valuation allowance

 

 -

 

 

 -

 

 
1 

End of year

 
15 

 

 
20 

 

 
29 

 

 

 

 

 

 

 

 

 

Valuation allowance:

 

 

 

 

 

 

 

 

Beginning of year

 
1 

 

 
1 

 

 
2 

Additions expensed

 

 -

 

 

 -

 

 

 -

Reductions credited to operations

 

 -

 

 

 -

 

 
(1)

End of year

$
1 

 

$
1 

 

$
1