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Mortgage Banking Activities (Tables)
6 Months Ended
Jun. 30, 2024
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 June 30, 2024December 31, 2023
 Unpaid Principal Balance/
Notional
Fair ValueUnpaid Principal Balance/
Notional
Fair Value
Residential mortgage loans held for sale$105,922 $105,706 $56,922 $56,457 
Residential mortgage loan commitments62,960 1,945 34,783 1,379 
Forward sales contracts127,010 (186)75,448 (901)
  $107,465  $56,935 
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2024202320242023
Production revenue:  
Net realized gains (losses) on sale of mortgage loans$2,338 $(296)$4,364 $(2,027)
Net change in unrealized gain (loss) on mortgage loans held for sale
631 (496)249 (126)
Net change in the fair value of mortgage loan commitments(528)(865)566 775 
Net change in the fair value of forward sales contracts(72)1,373 715 461 
Total production revenue (loss)2,369 (284)5,894 (917)
Servicing revenue16,259 15,425 31,701 30,425 
Total mortgage banking revenue$18,628 $15,141 $37,595 $29,508 
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 June 30, 2024December 31, 2023
Number of residential mortgage loans serviced for others125,698 115,967 
Outstanding principal balance of residential mortgage loans serviced for others$22,188,347 $20,382,192 
Weighted average interest rate3.68 %3.64 %
Remaining term (in months)278280
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Beginning Balance$319,330 $299,803 $293,884 $277,608 
Additions4,454 4,103 6,970 6,603 
Acquisitions14,021 — 31,421 31,138 
Change in fair value due to principal payments(8,012)(8,445)(13,459)(13,829)
Change in fair value due to market assumption changes3,453 9,261 14,430 3,202 
Ending Balance$333,246 $304,722 $333,246 $304,722 
Assumptions to Value Mortgage Servicing Rights [Table Text Block]
Mortgage servicing rights are not traded in active markets. Fair value is determined by discounting the projected net cash flows. Significant market assumptions used to determine fair value based on significant unobservable inputs were as follows:
 June 30, 2024December 31, 2023
Discount rate – risk-free rate plus a market premium9.91%9.72%
Prepayment rate – based upon loan interest rate, original term and loan type
6.75%7.34%
Loan servicing costs – annually per loan based upon loan type:
Performing loans
$73 - $94
$69 - $94
Delinquent loans
$150 - $500
$150 - $500
Loans in foreclosure
$875 - $8,000
$875 - $8,000
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
4.38%3.90%
Primary/secondary mortgage rate spread
115 bps105 bps
Delinquency rate
2.48%2.06%