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Servicing Rights (Tables)
 9 Months Ended
Sep. 30, 2021
Transfers and Servicing [Abstract]  
Schedule of Servicing Assets at Fair Value
The following table details the activity in the Company's mortgage servicing rights ("MSR") for the three and nine-month periods ended September 30, 2021 and 2020:
Three Months Ended September 30,Nine Months Ended September 30,
(In Thousands)2021202020212020
Balance, beginning of period$12,835 $10,721 $11,218 $11,920 
Additions for new MSR capitalized1,703 1,373 4,896 3,032 
Changes in fair value:
  Due to changes in model inputs of assumptions (1)
(928)(699)(1,092)(2,291)
  Other (2)
(530)(806)(1,942)(2,072)
Balance, end of period$13,080 $10,589 $13,080 $10,589 

(1) Principally reflects changes in discount rates and prepayment speed assumptions, which are primarily affected by changes in interest rates.
(2) Represents changes due to collection/realization of expected cash flows over time.
The following table details information related to our serviced mortgage loan portfolio as of September 30, 2021 and December 31, 2020:
(In Thousands)September 30, 2021December 31, 2020
Balance of mortgage loans serviced for others$750,327 $683,117 
MSR as a percentage of serviced loans1.74 %1.64 %
The following table outlines the weighted average key assumptions used in measuring the fair value of MSR as of September 30, 2021 and December 31, 2020:
September 30, 2021December 31, 2020
Constant prepayment rate12.31 %13.05 %
Discount rate8.00 %7.75 %
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets Key economic assumptions and the sensitivity of the current fair value for MSR to immediate adverse changes in those assumptions at September 30, 2021 and December 31, 2020 were as follows:
(In Thousands)September 30, 2021December 31, 2020
Aggregate portfolio principal balance$750,327 $683,117 
Weighted average rate of note3.36 %3.62 %
September 30, 2021Base1.0% Adverse Rate Change2.0% Adverse Rate Change
Constant prepayment rate12.31 %24.63 %36.19 %
Discount rate8.00 %7.00 %6.00 %
Fair value MSR$13,080 $9,134 $6,894 
Percentage of MSR1.74 %1.22 %0.92 %
December 31, 2020
Constant prepayment rate13.05 %26.11 %38.97 %
Discount rate7.75 %6.75 %5.75 %
Fair value MSR$11,218 $7,455 $5,404 
Percentage of MSR1.64 %1.09 %0.79 %