Note 16: Loan Servicing

Loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of these loans consist of the following:


	2018		2017
Loans serviced for
Freddie Mac	$	365,863	$	320,334
Fannie Mae		75,162		5,249
FHLB		54,399		9,313
Other investors		1,176		1,341
	$	496,600	$	336,237

The aggregate fair value of capitalized mortgage servicing rights is based on comparable market values and expected cash flows, with impairment assessed based on portfolio characteristics including product type and interest rates. The amount of servicing fees collected during 2018, 2017 and 2016 totaled approximately $1.1 million, $783,000, and $801,000, respectively.


	2018		2017		2016
Mortgage-servicing rights
Balances, January 1	$	1,504	$	1,351	$	1,335
Mortgage-servicing rights acquired		1,325		-		-
Servicing rights capitalized		438		549		482
Amortization of servicing rights		(596)		(396)		(466)
	$	2,671	$	1,504	$	1,351

The fair value of servicing rights subsequently measured using the amortization method was as follows:


	2018		2017		2016
Mortgage-servicing rights
Fair value, beginning of period	$	2,246	$	2,110	$	2,179
Fair value, end of period		3,518		2,246		2,110