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Mortgage Servicing Rights (Tables)
9 Months Ended
Sep. 30, 2022
Mortgage Servicing Rights  
Schedule of estimated future amortization expense for MSRs

​

​

​

​

​

​

​

Estimated

(dollars in thousands)

  

Amortization

Under one year

​

$

1,038

One to two years

​

​

912

Two to three years

​

​

800

Three to four years

​

​

699

Four to five years

​

​

611

Schedule of details of the Company's MSRs

​

​

​

​

​

​

​

​

September 30, 

​

December 31, 

(dollars in thousands)

2022

  

2021

Gross carrying amount

$

69,254

​

$

69,103

Less: accumulated amortization

​

62,388

​

​

60,801

Net carrying value

$

6,866

​

$

8,302

​

​

​

​

​

​

Schedule of changes in amortized MSRs

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30, 

​

Nine Months Ended September 30, 

(dollars in thousands)

2022

  

2021

  

2022

  

2021

Balance at beginning of period

$

7,152

​

$

10,007

​

$

8,302

​

$

10,731

Originations

​

47

​

​

101

​

​

151

​

​

1,206

Amortization

​

(333)

​

​

(1,001)

​

​

(1,587)

​

​

(2,830)

Balance at end of period

$

6,866

​

$

9,107

​

$

6,866

​

$

9,107

Fair value of amortized MSRs at beginning of period

$

14,969

​

$

13,480

​

$

12,243

​

$

14,029

Fair value of amortized MSRs at end of period

$

14,945

​

$

12,080

​

$

14,945

​

$

12,080

Schedule of quantitative assumptions used in determining lower of cost or fair value of MSRs

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2022

​

December 31, 2021

​

​

​

​

​

​

​

​

Weighted

​

​

​

​

​

​

Weighted

​

​

  

Range

​

Average

​

Range

​

Average

​

Conditional prepayment rate

​

8.06

%

-

16.41

%

8.19

%

13.77

%

-

25.19

%

14.61

%

Life in years (of the MSR)

​

3.04

​

-

6.94

​

6.81

​

1.99

​

-

5.31

​

5.03

​

Weighted-average coupon rate

​

3.55

%

-

6.31

%

3.68

%

3.58

%

-

6.56

%

3.71

%

Discount rate

​

10.00

%

-

10.02

%

10.01

%

10.00

%

-

10.01

%

10.00

%