Secondary Market Mortgage Activities

12 Months Ended

Dec. 31, 2019

The following summarizes secondary market mortgage activities for the years ended December 31, 2019, 2018, and 2017:



	2019		2018		2017
Loans originated for resale	$	43,458	$	22,990	$	25,231
Proceeds from sales of loans held for sale	43,198		23,311		24,285
Net gains on sales of loans held for sale	990		624		545
Loan servicing fees	634		600		563

Total loans serviced for others were $188,648 and $166,332 December 31, 2019 and 2018, respectively.

The following summarizes activity for capitalized mortgage servicing rights for the years ended December 31, 2019, 2018, and 2017:



	2019			2018			2017
Balance, beginning of year	$	1,495		$	1,387		$	1,391
Additions	292			315			198
Servicing rights acquired	0			0			0
Amortization	(214		)	(207		)	(202		)
Balance, end of year	$	1,573		$	1,495		$	1,387

The fair value of mortgage servicing rights is based on market prices for comparable mortgage servicing contracts, when available, or alternatively based on a valuation model that calculates the present value of estimated future net servicing income. The fair value of mortgage servicing rights was not materially different than amortized cost at December 31, 2019 and 2018, respectively. No valuation allowance was deemed necessary at December 31, 2019, 2018, and 2017. The fair value of interest rate lock commitments and forward commitments to sell loans was not material at December 31, 2019 or 2018.