LOAN SERVICING RIGHTS (Tables)

3 Months Ended

Mar. 31, 2025

Transfers and Servicing [Abstract]

Schedule of Carrying Value of Loan Servicing Rights Assets

The carrying value of the loan servicing rights assets is shown in the table below:

(dollars in thousands)	March 31, 2025		December 31, 2024
Loan Servicing Rights
Residential mortgage	$	116,584	$	112,514
SBA	2,927		2,926
Total loan servicing rights	$	119,511	$	115,440

The table below is an analysis of the activity in the Company’s MSRs and valuation allowance:

(dollars in thousands)	Three Months Ended March 31,
Residential mortgage servicing rights	2025		2024
Beginning carrying value, net	$	112,514	$	171,915
Additions	7,317		5,456
Amortization	(3,247)		(5,403)
Ending carrying value, net	$	116,584	$	171,968

The table below is an analysis of the activity in the Company’s SBA loan servicing rights and valuation allowance:

(dollars in thousands)	Three Months Ended March 31,
SBA servicing rights	2025		2024
Beginning carrying value, net	$	2,926	$	2,737
Additions	157		19
Amortization	(156)		(455)
Ending carrying value, net	$	2,927	$	2,301

Schedule of Sensitivity of Fair Value to Adverse Changes in Model Inputs and/or Assumptions

The key metrics and the sensitivity of the fair value to adverse changes in model inputs and/or assumptions are summarized below:

(dollars in thousands)	March 31, 2025			December 31, 2024
Residential mortgage servicing rights
Unpaid principal balance of loans serviced for others	$	9,194,125		$	8,856,724
Composition of residential loans serviced for others:
FHLMC	25.29		%	24.51		%
FNMA	67.16		%	68.42		%
GNMA	7.55		%	7.07		%
Total	100.00		%	100.00		%
Weighted average term (months)	354			353
Weighted average age (months)	34			33
Modeled prepayment speed	8.13		%	7.37		%
Decline in fair value due to a 10% adverse change	$	(4,709)		$	(2,474)
Decline in fair value due to a 20% adverse change	$	(9,207)		$	(5,227)
Weighted average discount rate	9.75		%	10.79		%
Decline in fair value due to a 10% adverse change	$	(5,798)		$	(3,283)
Decline in fair value due to a 20% adverse change	$	(11,303)		$	(7,379)

(dollars in thousands)	March 31, 2025			December 31, 2024
SBA servicing rights
Unpaid principal balance of loans serviced for others	$	233,035		$	235,793
Weighted average life (in years)	3.27			3.18
Modeled prepayment speed	18.40		%	18.95		%
Decline in fair value due to a 10% adverse change	$	(174)		$	(192)
Decline in fair value due to a 20% adverse change	$	(331)		$	(366)
Weighted average discount rate	10.66		%	11.27		%
Decline in fair value due to a 100 basis point adverse change	$	(82)		$	(97)
Decline in fair value due to a 200 basis point adverse change	$	(159)		$	(190)