MORTGAGE SERVICING RIGHTS (Tables)

6 Months Ended

Jun. 30, 2024

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,
	2024			2023		2024			2023
Beginning balance	$	26,843		$	25,795	$	26,569		$	27,474
Additions		263			463		482			734
Valuation adjustment		(680	)		400		(625	)		(1,550	)
Ending balance	$	26,426		$	26,658	$	26,426		$	26,658

	June 30,			December 31,
	2024			2023
Mortgage loans serviced for others	$	1,955,538		$	2,001,476
Mortgage servicing rights assets as a percentage of serviced mortgage loans		1.35	%		1.33	%

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,
	2024			2023
Weighted average constant prepayment rate		7.32	%		7.46	%
Weighted average discount rate		10.16	%		10.66	%
Weighted average life in years		8.04			8.09