Mortgage Loan Servicing, Origination, and Loans Held for Sale (Tables)

12 Months Ended

Dec. 31, 2023

Mortgage Loan Servicing, Origination, and Loans Held for Sale

Summary of changes in the fair value of MSRs and its offsetting hedge

	Year Ended December 31,
(Dollars in thousands)	2023		2022		2021
(Decrease)/increase in fair value of MSRs	$	(1,350)	$	14,886	$	9,930
Decay of MSRs		(8,540)		(9,897)		(14,863)
Loss related to derivatives		(1,420)		(18,212)		(4,892)
Net effect on Consolidated Statements of Net Income	$	(11,310)	$	(13,223)	$	(9,825)

Schedule of characteristics and sensitivity analysis of the MSR

	December 31,
(Dollars in thousands)	2023			2022
Composition of residential loans serviced for others
Fixed-rate mortgage loans		100.0	%		100.0	%
Adjustable-rate mortgage loans		—	%		—	%
Total		100.0	%		100.0	%
Weighted average life		8.03	years		8.37	years
Constant Prepayment rate (CPR)		7.0	%		6.4	%
Estimated impact on fair value of a 10% increase	$	(522)		$	(129)
Estimated impact on fair value of a 20% increase		(1,014)			(266)
Estimated impact on fair value of a 10% decrease		551			118
Estimated impact on fair value of a 20% decrease		1,128			219
Weighted average discount rate		10.7	%		10.0	%
Estimated impact on fair value of a 10% increase	$	(3,270)		$	(2,554)
Estimated impact on fair value of a 20% increase		(6,458)			(5,321)
Estimated impact on fair value of a 10% decrease		3,242			2,158
Estimated impact on fair value of a 20% decrease		6,283			3,831
Effect on fair value due to change in interest rates
25 basis point increase	$	1,647		$	774
50 basis point increase		3,189			1,428
25 basis point decrease		(1,723)			(902)
50 basis point decrease		(3,501)			(1,938)