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Loan Servicing (Tables)
 3 Months Ended
Mar. 31, 2021
Transfers And Servicing [Abstract]  
Summary of Activity Relating to Mortgage Servicing Rights

The following table summarizes the activity relating to mortgage servicing rights (“MSRs”) for the three months ended March 31, 2021 and 2020 (in thousands):

 

 

 

March 31, 2021

 

 

March 31, 2020

 

 

 

 

 

 

 

 

 

 

Mortgage servicing rights:

 

 

 

 

 

 

 

 

Balance at beginning of year

 

$

15,372

 

 

$

9,484

 

Additions through originations

 

 

2,786

 

 

 

877

 

Amortization

 

 

(840

)

 

 

(383

)

Balance at end of period

 

$

17,318

 

 

$

9,978

 

 

 

 

 

 

 

 

 

 

Valuation allowance:

 

 

 

 

 

 

 

 

Balance at beginning of year

 

$

2,995

 

 

$

928

 

Provision (recovery)

 

 

(421

)

 

 

1,562

 

Balance at end of period

 

$

2,574

 

 

$

2,490

 

Amortized cost, net

 

$

14,744

 

 

$

7,488

 

Fair value

 

$

15,362

 

 

$

7,515