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Servicing Rights (Tables)
 3 Months Ended
Mar. 31, 2023
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-month periods ended March 31, 2023 and 2022:
Three Months Ended March 31,
(In Thousands)20232022
Balance, beginning of period$18,635 $13,724 
Additions for new MSR capitalized463 987 
Changes in fair value:
  Due to changes in model inputs of assumptions (1)
(212)1,192 
  Other (2)
(583)(481)
Balance, end of period$18,303 $15,422 

(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 March 31, 2023 and December 31, 2022:
(In Thousands)March 31, 2023December 31, 2022
Balance of mortgage loans serviced for others$911,065 $898,840 
MSR as a percentage of serviced loans2.01 %2.07 %
The following table outlines the weighted average key assumptions used in measuring the fair value of MSR as of March 31, 2023 and December 31, 2022:
March 31, 2023December 31, 2022
Constant prepayment rate5.67 %6.64 %
Discount rate10.97 %11.25 %
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 March 31, 2023 and December 31, 2022 were as follows:
(In Thousands)March 31, 2023December 31, 2022
Aggregate portfolio principal balance$911,065 $898,840 
Weighted average rate of note3.54 %3.47 %
March 31, 2023Base1.0% Adverse Rate Change2.0% Adverse Rate Change
Constant prepayment rate5.67 %5.71 %7.15 %
Discount rate10.97 %9.97 %8.97 %
Fair value MSR$18,303 $17,778 $16,869 
Percentage of MSR2.01 %1.95 %1.85 %
December 31, 2022
Constant prepayment rate6.64 %13.28 %19.92 %
Discount rate11.25 %10.25 %9.25 %
Fair value MSR$18,635 $14,763 $11,796 
Percentage of MSR2.07 %1.64 %1.31 %