Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2020

Transfers and Servicing [Abstract]

Summary of Changes in Mortgage Servicing Rights

The following table summarizes the changes in MSRs, which are included in other assets on the consolidated balance sheets:

	Three months ended June 30				Six months ended June 30
	2020		2019		2020		2019
	(in thousands)
Amortized cost:
Balance at beginning of period	$	38,854	$	38,504	$	39,267	$	38,573
Originations of MSRs	2,772		1,861		4,250		3,086
Amortization	(2,934)		(1,539)		(4,825)		(2,833)
Balance at end of period	$	38,692	$	38,826	$	38,692	$	38,826
Valuation allowance:
Balance at beginning of period	$	(1,100)	$	—	$	—	$	—
Additions to valuation allowance	(6,600)		—		(7,700)		—
Balance at end of period	$	(7,700)	$	—	$	(7,700)	$	—
Net MSRs at end of period	$	30,992	$	38,826	$	30,992	$	38,826
Estimated fair value of MSRs at end of period	$	30,992	$	44,916	$	30,992	$	44,916