XML 54 R39.htm IDEA: XBRL DOCUMENT v3.22.4
Transfers of Financial Assets (Tables)
 12 Months Ended
Dec. 31, 2022
Transfers and Servicing [Abstract]  
Schedule of Loan Sale Activity [Table Text Block] The following table summarizes information related to mortgage banking activities:
 Years ended December 31,
(In thousands)202220212020
Net gain on sale$580 $5,192 $15,305 
Origination fees219 1,440 3,230 
Fair value adjustments(94)(413)(240)
Mortgage banking activities$705 $6,219 $18,295 
Proceeds from sale$36,335 $247,634 $486,341 
Loans sold with servicing rights retained32,056 237,834 464,736 
Servicing Asset at Amortized Cost
The following table presents the change in the carrying amount for mortgage servicing rights:
 Years ended December 31,
(In thousands)202220212020
Balance, beginning of period$9,237 $13,422 $17,484 
Acquired from Sterling859 — — 
Additions289 2,053 4,373 
Amortization (1)
(870)(5,593)(6,562)
Adjustment to valuation allowance— (645)(1,873)
Balance, end of period$9,515 $9,237 $13,422 
(1)During the year ended December 31, 2022, the Company implemented a change in the method of amortization applied to its mortgage servicing rights to better reflect the pattern of consumption, where estimated future cash flows are now assessed at the individual loan level as opposed to on a pooled basis.