Mortgage Servicing Rights (Tables)

9 Months Ended

Sep. 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 September 30				Nine months ended September 30
	2020		2019		2020		2019
	(in thousands)
Amortized cost:
Balance at beginning of period	$	38,692	$	38,826	$	39,267	$	38,573
Originations of MSRs	4,319		2,499		8,569		5,585
Amortization	(4,129)		(1,970)		(8,954)		(4,803)
Balance at end of period	$	38,882	$	39,355	$	38,882	$	39,355
Valuation allowance:
Balance at beginning of period	$	(7,700)	$	—	$	—	$	—
Additions to valuation allowance	(1,500)		—		(9,200)		—
Balance at end of period	$	(9,200)	$	—	$	(9,200)	$	—
Net MSRs at end of period	$	29,682	$	39,355	$	29,682	$	39,355
Estimated fair value of MSRs at end of period	$	29,682	$	43,968	$	29,682	$	43,968