Mortgage Servicing Rights

6 Months Ended

Jun. 30, 2022

Transfers And Servicing [Abstract]

Mortgage Servicing Rights

Note 8 — Mortgage Servicing Rights

Mortgage loans serviced are related to the Century business and not included in the consolidated balance sheets. The unpaid principal balance of mortgage loans serviced for others amounted to $505.1 million and $520.6 million as of June 30, 2022 and December 31, 2021, respectively. The Company has elected to record its mortgage servicing rights using the fair value measurement method. Significant assumptions used in determining the fair value of servicing rights as of June 30, 2022 and December 31, 2021 include: 1) Weighted average discount rate of 8.1% and 8.0%, respectively. 2) Weighted average conditional prepayment rate of 2.2% and 3.2%, respectively. The following table presents the Company's mortgage servicing rights (in thousands):

	June 30, 2022		December 31, 2021
Balance at the beginning of year	$	7,152	$	—
Mortgage servicing rights acquired, at fair value		—		7,152
Additions		—		—
Fair value adjustments		1,286		—
Balance at end of period	$	8,438	$	7,152