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LOAN SERVICING RIGHTS (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024December 31, 2023
Loan Servicing Rights
Residential mortgage$112,514 $171,915 
SBA2,926 2,737 
Total loan servicing rights$115,440 $174,652 
The table below is an analysis of the activity in the Company’s MSRs and impairment:
Years Ended December 31,
(dollars in thousands)202420232022
Residential mortgage servicing rights
Beginning carrying value, net$171,915 $147,014 $206,944 
Additions34,986 44,305 64,020 
Amortization(17,501)(19,404)(24,995)
(Impairment)/recoveries— — 21,824 
Disposals(76,886)— (120,779)
Ending carrying value, net$112,514 $171,915 $147,014 
Years Ended December 31,
(dollars in thousands)202420232022
Residential mortgage servicing impairment
Beginning balance$— $— $25,782 
Recoveries— — (21,824)
Reduction due to disposal— — (3,958)
Ending balance$— $— $— 
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)202420232022
SBA servicing rights
Beginning carrying value, net$2,737 $3,443 $5,556 
Additions1,400 392 889 
Amortization(1,211)(1,098)(3,002)
Ending carrying value, net$2,926 $2,737 $3,443 
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, 2024December 31, 2023
Residential mortgage servicing rights
Unpaid principal balance of loans serviced for others$8,856,724 $12,454,454 
Composition of residential loans serviced for others:
FHLMC24.51 %17.54 %
FNMA68.42 %50.51 %
GNMA7.07 %31.95 %
Total100.00 %100.00 %
Weighted average term (months)353355
Weighted average age (months)3327
Modeled prepayment speed7.37 %8.56 %
Decline in fair value due to a 10% adverse change(2,474)(4,492)
Decline in fair value due to a 20% adverse change(5,227)(9,444)
Weighted average discount rate10.79 %10.98 %
Decline in fair value due to a 10% adverse change(3,283)(5,110)
Decline in fair value due to a 20% adverse change(7,379)(11,181)
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, 2024December 31, 2023
SBA servicing rights
Unpaid principal balance of loans serviced for others$235,793 $271,164 
Weighted average life (in years)3.183.31
Modeled prepayment speed18.95 %20.83 %
Decline in fair value due to a 10% adverse change(192)(171)
Decline in fair value due to a 20% adverse change(366)(327)
Weighted average discount rate11.27 %14.70 %
Decline in fair value due to a 100 basis point adverse change(97)(69)
Decline in fair value due to a 200 basis point adverse change(190)(135)