Loan Servicing

9 Months Ended

Sep. 30, 2021

Mortgage Banking [Abstract]

Loan Servicing

Loan ServicingMortgage loans that are serviced for others are not reported as assets, only the servicing rights are recorded and included in other assets. The following schedules disclose the change in the carrying value of mortgage servicing rights that is included in other assets, principal balances of loans serviced and the fair value of mortgage servicing rights:

(Dollars in thousands)	September 30, 2021		December 31, 2020
Carrying value at beginning of period	$	8,976	1,618
Additions	3,996		8,298
Amortization	(1,327)		(940)
Carrying value at end of period	$	11,645	8,976
Principal balances of loans serviced for others	$	1,511,199	1,269,080
Fair value of servicing rights	$	15,477	12,087

Securities Sold Under Agreements to Repurchase

The following table summarizes the carrying value of the Company’s securities sold under agreements to repurchase (“repurchase agreements”) by remaining contractual maturity of the agreements and category of collateral:

	Overnight and Continuous
(Dollars in thousands)	September 30, 2021		December 31, 2020
State and local governments	$	118,957	787,016
Corporate bonds	137,461		217,567
Residential mortgage-backed securities	773,204		—
Commercial mortgage-backed securities	11,317		—
Total	$	1,040,939	1,004,583

The repurchase agreements are secured by debt securities with carrying values of $1,197,475,000 and $1,151,264,000 at September 30, 2021 and December 31, 2020, respectively. Securities are pledged to customers at the time of the transaction in an amount at least equal to the outstanding balance and are held in custody accounts by third parties. The fair value of collateral is continually monitored and additional collateral is provided as deemed appropriate.