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Mortgage Servicing Rights (Tables)
9 Months Ended
Sep. 30, 2022
Mortgage Servicing Rights  
Schedule of estimated future amortization expense for MSRs

Estimated

(dollars in thousands)

  

Amortization

Under one year

$

1,038

One to two years

912

Two to three years

800

Three to four years

699

Four to five years

611

Schedule of details of the Company's MSRs

September 30, 

December 31, 

(dollars in thousands)

2022

  

2021

Gross carrying amount

$

69,254

$

69,103

Less: accumulated amortization

62,388

60,801

Net carrying value

$

6,866

$

8,302

Schedule of changes in amortized MSRs

Three Months Ended September 30, 

Nine Months Ended September 30, 

(dollars in thousands)

2022

  

2021

  

2022

  

2021

Balance at beginning of period

$

7,152

$

10,007

$

8,302

$

10,731

Originations

47

101

151

1,206

Amortization

(333)

(1,001)

(1,587)

(2,830)

Balance at end of period

$

6,866

$

9,107

$

6,866

$

9,107

Fair value of amortized MSRs at beginning of period

$

14,969

$

13,480

$

12,243

$

14,029

Fair value of amortized MSRs at end of period

$

14,945

$

12,080

$

14,945

$

12,080

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

September 30, 2022

December 31, 2021

Weighted

Weighted

  

Range

Average

Range

Average

Conditional prepayment rate

8.06

%

-

16.41

%

8.19

%

13.77

%

-

25.19

%

14.61

%

Life in years (of the MSR)

3.04

-

6.94

6.81

1.99

-

5.31

5.03

Weighted-average coupon rate

3.55

%

-

6.31

%

3.68

%

3.58

%

-

6.56

%

3.71

%

Discount rate

10.00

%

-

10.02

%

10.01

%

10.00

%

-

10.01

%

10.00

%