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Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2022
Transfers and Servicing [Abstract]  
Schedule of Servicing Asset at Fair Value The following table details the activity in the Company's MSR for the year indicated:
(In Thousands)202220212020
Balance, beginning of period$13,724 $11,218 $11,920 
Additions for new MSR capitalized4,623 6,088 4,824 
Changes in fair value:
  Due to changes in model inputs of assumptions (1)
1,615 (1,181)(2,701)
  Other (2)
(1,327)(2,401)(2,825)
Carrying value, December 31$18,635 $13,724 $11,218 

(1) Principally reflects changes in discount rates and prepayment speed assumptions, which are primarily affected by changes in interest rates.
(2) Represents changes due to collection/realization of expected cash flows over time.

    The following table details information related to our serviced mortgage loan portfolio as of the dates indicated:
(In Thousands)December 31, 2022December 31, 2021
Balance of mortgage loans serviced for others$898,840 $772,764 
MSR as a percentage of serviced loans2.07 %1.78 %
The following table outlines the key assumptions used in measuring the fair value of mortgage servicing rights as of December 31, 2022 and 2021:
20222021
Average constant prepayment rate6.64 %11.80 %
Average discount rate11.25 %8.00 %
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets Key economic assumptions and the sensitivity of the current fair value for mortgage servicing rights to immediate adverse changes in those assumptions at December 31, 2022 and 2021 were as follows:
(In Thousands)December 31, 2022December 31, 2021
Aggregate portfolio principal balance$898,840 $772,764 
Weighted average rate of note3.47 %3.31 %
December 31, 2022Base1.0% Adverse Rate Change2.0% Adverse Rate Change
Conditional prepayment rate6.64 %13.28 %19.92 %
Discount rate11.25 %10.25 %9.25 %
Fair value MSR$18,635 $14,763 $11,796 
Percentage of MSR2.07 %1.64 %1.31 %
December 31, 2021
Conditional prepayment rate11.80 %23.59 %34.57 %
Discount rate8.00 %7.00 %6.00 %
Fair value MSR$13,724 $9,612 $7,256 
Percentage of MSR1.78 %1.24 %0.94 %