Transfers and Servicing of Financial Assets (Tables)

9 Months Ended

Sep. 30, 2022

Transfers and Servicing [Abstract]

Transfer of Financial Assets Accounted for as Sales

The following table summarizes information related to mortgage banking activities:

	Three months ended September 30,				Nine months ended September 30,
(In thousands)	2022		2021		2022		2021
Net gain on sale	$	26	$	1,063	$	529	$	4,523
Origination fees	22		313		194		1,231
Fair value adjustment	38		149		(107)		(268)
Mortgage banking activities	$	86	$	1,525	$	616	$	5,486
Proceeds from sale	$	1,053	$	52,256	$	33,886	$	199,991
Loans sold with servicing rights retained	147		50,643		30,464		192,421

Servicing Asset at Amortized Cost

The following table presents the change in the carrying amount for mortgage servicing assets:

	Three months ended September 30,				Nine months ended September 30,
(In thousands)	2022		2021		2022		2021
Beginning balance	$	8,592	$	11,501	$	9,237	$	13,422
Additions (1)	1,627		483		2,751		1,685
Amortization (2)	(382)		(1,363)		(2,151)		(4,295)
Adjustment to valuation allowance	—		(454)		—		(645)
Ending balance	$	9,837	$	10,167	$	9,837	$	10,167

(1)In connection with the Sterling merger, Webster acquired $0.9 million of mortgage servicing assets on January 31, 2022.