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LOAN SERVICING RIGHTS (Tables)
 12 Months Ended
Dec. 31, 2020
Transfers and Servicing [Abstract]  
Schedule of Servicing Assets at Fair Value The carrying value of the loan servicing rights assets is shown in the table below:
(dollars in thousands)December 31, 2020December 31, 2019
Loan Servicing Rights
Residential mortgage$130,630 $94,902 
SBA5,839 7,886 
Indirect automobile73 247 
Total loan servicing rights$136,542 $103,035 
The table below is an analysis of the activity in the Company’s MSRs and impairment:

Years Ended December 31,
(dollars in thousands)202020192018
Residential mortgage servicing rights
Beginning carrying value, net$94,902 $11,814 $5,262 
Additions98,182 12,559 7,502 
Addition due to acquisition— 78,855 — 
Amortization(23,151)(8,222)(950)
(Impairment)/recoveries(39,303)(104)— 
Ending carrying value, net$130,630 $94,902 $11,814 

Years Ended December 31,
(dollars in thousands)202020192018
Residential mortgage servicing impairment
Beginning balance$104 $— $— 
Additions39,303 104 — 
Recoveries— — — 
Ending balance$39,407 $104 $— 
The table below is an analysis of the activity in the Company’s SBA loan servicing rights and impairment:

Years Ended December 31,
(dollars in thousands)202020192018
SBA servicing rights
Beginning carrying value, net$7,886 $3,012 $1,988 
Additions1,571 1,004 1,714 
Addition due to acquisition— 5,242 — 
Purchase accounting adjustment(1,214)— — 
Amortization(1,640)(1,231)(690)
(Impairment)/recovery(764)(141)— 
Ending carrying value, net$5,839 $7,886 $3,012 

Years Ended December 31,
(dollars in thousands)202020192018
SBA servicing impairment
Beginning balance$141 $— $— 
Additions764 141 — 
Recoveries— — — 
Ending balance$905 $141 $— 
The Company is not actively originating or selling indirect automobile loans.
Years Ended December 31,
(dollars in thousands)202020192018
Indirect automobile servicing rights
Beginning carrying value, net$247 $— $— 
Addition due to acquisition— 777 — 
Amortization(174)(268)— 
Impairment— (262)— 
Ending carrying value, net$73 $247 $— 
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets
The key metrics and the sensitivity of the residential mortgage servicing rights fair value to adverse changes in model inputs and/or assumptions are summarized below:
(dollars in thousands)December 31, 2020December 31, 2019
Residential mortgage servicing rights
Unpaid principal balance of loans serviced for others$13,764,529 $8,469,600 
Composition of residential loans serviced for others:
FHLMC21.55 %25.87 %
FNMA61.75 %65.35 %
GNMA16.70 %8.78 %
Total100.00 %100.00 %
Weighted average term (months)340341
Weighted average age (months)2033
Modeled prepayment speed18.82 %14.41 %
Decline in fair value due to a 10% adverse change(7,154)(4,455)
Decline in fair value due to a 20% adverse change(13,664)(8,520)
Weighted average discount rate9.50 %9.49 %
Decline in fair value due to a 10% adverse change(4,304)(3,557)
Decline in fair value due to a 20% adverse change(8,321)(6,810)
The key metrics and the sensitivity of the SBA servicing rights fair value to adverse changes in model inputs and/or assumptions are summarized below:
(dollars in thousands)December 31, 2020December 31, 2019
SBA servicing rights
Unpaid principal balance of loans serviced for others$351,325 $339,247 
Weighted average life (in years)3.463.81
Modeled prepayment speed19.14 %17.86 %
Decline in fair value due to a 10% adverse change(335)(299)
Decline in fair value due to a 20% adverse change(636)(570)
Weighted average discount rate9.55 %11.47 %
Decline in fair value due to a 100 basis point adverse change(151)(144)
Decline in fair value due to a 200 basis point adverse change(295)(280)