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Mortgage Servicing Rights (Tables)
9 Months Ended
Sep. 30, 2021
Mortgage Servicing Rights  
Schedule of estimated future amortization expense for MSRs

Estimated

(dollars in thousands)

  

Amortization

Under one year

$

1,860

One to two years

1,434

Two to three years

1,142

Three to four years

926

Four to five years

763

Schedule of details of the Company's MSRs

September 30, 

December 31, 

(dollars in thousands)

  

2021

  

2020

Gross carrying amount

$

69,062

$

67,856

Less: accumulated amortization

59,955

57,125

Net carrying value

$

9,107

$

10,731

Schedule of changes in amortized MSRs

Three Months Ended September 30, 

Nine Months Ended September 30, 

(dollars in thousands)

  

2021

  

2020

  

2021

  

2020

Balance at beginning of period

$

10,007

$

11,595

$

10,731

$

12,668

Originations

101

729

1,206

2,935

Amortization

(1,001)

(1,402)

(2,830)

(4,681)

Balance at end of period

$

9,107

$

10,922

$

9,107

$

10,922

Fair value of amortized MSRs at beginning of period

$

13,480

$

15,159

$

14,029

$

20,329

Fair value of amortized MSRs at end of period

$

12,080

$

14,282

$

12,080

$

14,282

Schedule of quantitative assumptions used in determining lower of cost or fair value of MSRs

September 30, 2021

December 31, 2020

Weighted

Weighted

  

Range

Average

Range

Average

Conditional prepayment rate

15.12

%

-

25.14

%

16.13

%

11.86

%

-

26.52

%

16.90

%

Life in years (of the MSR)

1.95

-

5.02

4.70

1.83

-

6.68

4.45

Weighted-average coupon rate

3.60

%

-

6.65

%

3.73

%

3.24

%

-

6.98

%

3.84

%

Discount rate

10.00

%

-

10.01

%

10.00

%

10.00

%

-

10.00

%

10.00

%