XML 38 R28.htm IDEA: XBRL DOCUMENT v3.23.2
MORTGAGE SERVICING RIGHTS (Tables)
 6 Months Ended
Jun. 30, 2023
MORTGAGE SERVICING RIGHTS [Abstract]  
Change in Fair Value of Mortgage Servicing Rights Asset and Other Information
The following table reflects the changes in fair value of the Company’s mortgage servicing rights asset included in the Consolidated Balance Sheets, and other information related to the serviced portfolio, for the periods or dates presented (dollars in thousands):

   
Three Months Ended
June 30,
    
Six Months Ended
June 30,
  
   
2023
    
2022
    
2023
    
2022
  
Beginning balance
  
$
25,795
    
$
25,425
    
$
27,474
    
$
19,700
  
Additions
    
463
      
930
      
734
      
2,180
  
Valuation adjustment
    
400
      
1,150
      
(1,550
)
    
5,625
  
Ending balance
  
$
26,658
    
$
27,505
    
$
26,658
    
$
27,505
  

   
June 30,
    
December 31,
  
   
2023
    
2022
  
Mortgage loans serviced for others
  
$
2,025,210
    
$
2,046,490
  
Mortgage servicing rights assets as a percentage of serviced mortgage loans
    
1.32
%
    
1.34
%
Key Assumptions Used in Measuring Fair Value of Mortgage Servicing Rights
The following table reflects the key assumptions used in measuring the fair value of the Company’s mortgage servicing rights as of the dates indicated:

   
June 30,
    
December 31,
  
   
2023
    
2022
  
Weighted average constant prepayment rate
    
7.29
%
    
7.47
%
Weighted average discount rate
    
9.65
%
    
9.15
%
Weighted average life in years
    
7.97
      
7.91