Servicing Assets

12 Months Ended

Dec. 31, 2020

Servicing Asset [Abstract]

Servicing Assets

Note 6. Servicing Assets

Activity for loan servicing assets during the years ended December 31, 2020, 2019, and 2018 is as follows:

	Year Ended
	2020			2019			2018
	(Dollars in thousands)
Beginning balance	$	7,024		$	6,987		$	6,771
Additions		2,073			2,121			2,257
Amortized to expense		(1,737	)		(2,084	)		(2,041	)
Ending balance	$	7,360		$	7,024		$	6,987

There was no valuation allowance recorded against the carrying value of the servicing assets as of December 31, 2020, 2019, or 2018.

The fair value of the servicing assets was $9.1 million at December 31, 2020, which was determined using discount rates ranging from 1.75% to 10.00% and prepayment speeds ranging from 14.3% to 15.1%, depending on the stratification of the specific assets.

The fair value of the servicing assets was $8.2 million at December 31, 2019, which was determined using discount rates ranging from 1.75% to 10.00% and prepayment speeds ranging from 14.0% to 15.3%, depending on the stratification of the specific assets.