Mortgage Servicing Rights (Tables)

3 Months Ended

Mar. 31, 2025

Transfers and Servicing [Abstract]

Schedule of Fees Received on Mortgage Servicing Rights

The following summarizes the components of loan servicing fees which are reported in loan servicing fees in the Company’s Consolidated Statements of Income as of the periods set forth in the table below (dollars in thousands):

	Three Months Ended
	March 31, 2025		March 31, 2024
Contractual servicing fees	$	1,682	$	5,467
Late fees	17		182
Other fees	3		20
Change in fair value of MSRs	$	(707)	$	(1,808)
Total	$	995	$	3,861

Schedule of Servicing Asset at Amortized Cost

The following summarizes mortgage servicing rights capitalized and amortized as of the periods set forth in the table below (dollars in thousands):

	Three Months Ended
	March 31, 2025		March 31, 2024
Balance – Beginning of year	$	15,133	$	95,339
Additions	1,066		485
Paid in full loans	(128)		(840)
Change in fair value	(579)		(968)
Balance – End of year	$	15,492	$	94,016

Schedule of Significant Assumptions Used

The following table summarizes the hypothetical effect on the fair value of servicing rights using adverse changes of 10.0% and 20.0% to the weighted-average of certain significant assumptions used in valuing these assets as of the dates indicated (dollars in thousands, except per loan):

	March 31, 2025							December 31, 2024
	Actual			10% Adverse Change		20% Adverse Change		Actual			10% Adverse Change		20% Adverse Change
Discount rate change	10.6		%	$	14,846	$	14,250	10.6		%	$	14,493	$	13,904
Constant prepayment rate	10.2		%	14,930		14,409		9.7		%	14,606		14,117
Cost to service (per loan)	$	75		15,302		15,112		$	75		14,947		14,761