The following table presents changes in mortgage servicing rights ("MSR") for the periods presented:


(dollars in thousands)
Balance at December 31, 2023	$	8,696
Additions	310
Amortization	(370)
Balance at June 30, 2024	$	8,636

Balance at December 31, 2022	$	9,074
Additions	125
Amortization	(356)
Balance at June 30, 2023	$	8,843

Income generated as the result of new MSR is reported as gains on sales of loans and totaled $0.2 million and $0.3 million for the three and six months ended June 30, 2024, respectively, compared to $0.1 million and $0.1 million for the three and six months ended June 30, 2023, respectively.

Amortization of mortgage servicing rights totaled $0.2 million and $0.4 million for the three and six months ended June 30, 2024, respectively, compared to $0.2 million and $0.4 million for the three and six months ended June 30, 2023, respectively.

The following table presents the fair market value and key assumptions used in determining the fair market value of MSR as of the dates presented:


(dollars in thousands)	June 30, 2024			December 31, 2023
Fair market value, beginning of year	$	12,185		$	12,061
Fair market value, end of period	12,151			12,185
Weighted average discount rate	9.5		%	9.5		%
Weighted average prepayment speed assumption	11.0			11.2

The following table presents carrying values and accumulated amortization related to MSR as of the dates presented:


	June 30, 2024						December 31, 2023
(dollars in thousands)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value

Mortgage servicing rights	$	70,050	$	(61,414)	$	8,636	$	69,740	$	(61,044)	$	8,696

The following table presents the estimated amortization expense for the remainder of fiscal year 2024, the next five succeeding fiscal years, and all years thereafter, based on MSR held as of June 30, 2024:


(dollars in thousands)
Year Ending December 31,
2024 (remainder)	$	418
2025	893
2026	803
2027	719
2028	642
2029	563
Thereafter	4,598
Total	$	8,636

The Company performs an impairment assessment of its MSR whenever events or changes in circumstance indicate that the carrying value of the MSR may not be recoverable. The Company noted no impairment or triggering events related to its MSR at June 30, 2024.