XML 39 R30.htm IDEA: XBRL DOCUMENT v3.22.2
Mortgage Servicing Rights (Tables)
 6 Months Ended
Jun. 30, 2022
Transfers and Servicing of Financial Assets [Abstract]  
Schedule of Changes in Mortgage Servicing Rights
Changes in the Company’s mortgage servicing rights were as follows for the three and six months ended June 30, 2022 and 2021:
 Three Months Ended June 30,Six Months Ended June 30,
 202220212022 2021 
Carrying value at beginning of period$144,675 $104,192 $115,512 $79,997 
Capitalization5,258 10,573 15,070 22,167 
Change in fair value:
    Due to pay-offs/pay-downs(5,024)(7,865)(9,495)(17,186)
    Due to change in valuation inputs or assumptions13,769 (5,285)37,591 16,637 
        Carrying value at end of period$158,678 $101,615 $158,678 $101,615 
Schedule of Servicing Income and Expense Included in Mortgage Banking Income
The following table summarizes servicing income and expense, which are included in 'Mortgage banking income' and 'Other noninterest expense', respectively, within the Mortgage segment operating results for the three and six months ended June 30, 2022 and 2021: 
 Three Months Ended June 30,Six Months Ended June 30,
 202220212022 2021 
Servicing income:
   Servicing income$7,966 $6,788 $15,395 $13,719 
   Change in fair value of mortgage servicing rights8,745 (13,150)28,096 (549)
   Change in fair value of derivative hedging instruments(9,897)10,005 (28,995)(7,859)
Servicing income
6,814 3,643 14,496 5,311 
Servicing expenses3,377 2,693 5,925 5,225 
          Net servicing income(1)
$3,437 $950 $8,571 $86 
(1) Excludes benefit of custodial servicing related noninterest-bearing deposits held by the Bank.
Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights
Data and key economic assumptions related to the Company’s mortgage servicing rights as of June 30, 2022 and December 31, 2021 are as follows: 
 June 30,December 31,
 20222021
Unpaid principal balance$11,160,382 $10,759,286 
Weighted-average prepayment speed (CPR)5.13 %9.31 %
Estimated impact on fair value of a 10% increase$(4,617)$(4,905)
Estimated impact on fair value of a 20% increase$(8,901)$(9,429)
Discount rate10.5 %9.81 %
Estimated impact on fair value of a 100 bp increase$(7,274)$(4,785)
Estimated impact on fair value of a 200 bp increase$(13,943)$(9,198)
Weighted-average coupon interest rate3.23 %3.23 %
Weighted-average servicing fee (basis points)2727
Weighted-average remaining maturity (in months)330330