Secondary Market Mortgage Activities

12 Months Ended

Dec. 31, 2023

Total loans serviced for others were $258.5 million and $264.5 million for the years ended December 31, 2023 and 2022, respectively.

The following summarizes secondary market mortgage activities for the years ended December 31, 2023, 2022, and 2021:


	December 31, 2023		December 31, 2022		December 31, 2021
Loans originated for resale	$	17,874	$	34,181	$	95,411
Proceeds from sales of loans held for sale	16,263		29,151		97,179
Net gains on sales of loans held for sale	447		1,285		2,737
Loan servicing fees	744		781		720

The following summarizes activity for capitalized mortgage servicing rights for the years ended December 31, 2023, 2022, and 2021:


	December 31, 2023		December 31, 2022		December 31, 2021
Balance, beginning of year	$	1,804	$	1,664	$	1,527
Additions	114		232		514
Servicing rights acquired	—		—		—
Amortization	(364)		(92)		(377)
Balance, end of year	$	1,554	$	1,804	$	1,664

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, 2023 and 2022, respectively. No valuation allowance was deemed necessary at December 31, 2023, 2022, and 2021. The fair value of interest rate lock commitments and forward commitments to sell loans were not material at December 31, 2023 or 2022.