Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2021

Transfers and Servicing [Abstract]

Summary of Changes in Mortgage Servicing Rights

The following table summarizes the changes in MSRs, which are included in other assets on the consolidated balance sheets, with adjustments to the fair value included in mortgage banking income on the consolidated statements of income:

	2021		2020		2019
	(in thousands)
Amortized cost:
Balance at beginning of period	$	38,745	$	39,267	$	38,573
Originations of MSRs	9,216		12,173		7,546
Amortization	(11,968)		(12,695)		(6,852)
Balance at end of period	$	35,993	$	38,745	$	39,267
Valuation allowance:
Balance at beginning of period	$	(10,500)	$	—	$	—
Reduction (addition) to valuation allowance	9,900		(10,500)		—
Balance at end of period	$	(600)	$	(10,500)	$	—
Net MSRs at end of period	$	35,393	$	28,245	$	39,267
Estimated fair value of MSRs at end of period	$	35,393	$	28,245	$	45,193

Schedule Of MSR Amortization Expense

Estimated future MSR amortization expense, based on balances as of December 31, 2021, and the estimated remaining lives of the underlying loans, follows (in thousands):

Year
2022	$	6,104
2023	5,665
2024	5,186
2025	4,663
2026	4,095
Thereafter	10,280
Total estimated amortization expense	$	35,993