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Loan Servicing (Tables)
 3 Months Ended
Mar. 31, 2022
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, 2022 and 2021 (in thousands):

 

 

 

March 31, 2022

 

 

March 31, 2021

 

 

 

 

 

 

 

 

 

 

Mortgage servicing rights:

 

 

 

 

 

 

 

 

Balance at beginning of year

 

$

18,173

 

 

$

15,372

 

Additions through originations

 

 

377

 

 

 

2,786

 

Amortization

 

 

(749

)

 

 

(840

)

Balance at end of period

 

$

17,801

 

 

$

17,318

 

 

 

 

 

 

 

 

 

 

Valuation allowance:

 

 

 

 

 

 

 

 

Balance at beginning of year

 

$

2,558

 

 

$

2,995

 

Provision (recovery)

 

 

(135

)

 

 

(421

)

Balance at end of period

 

$

2,423

 

 

$

2,574

 

Amortized cost, net

 

$

15,378

 

 

$

14,744

 

Fair value

 

$

16,055

 

 

$

15,362