Mortgage Banking (Tables)

12 Months Ended

Dec. 31, 2021

Mortgage Banking [Abstract]

Schedule of net revenues from the sales and servicing of mortgage loans

Net revenues from the sales and servicing of mortgage loans consisted of the following:

	For the Year Ended December 31,
	2021			2020			2019
	(In Thousands)
Gain from sale of mortgage loans	$	16,437		$	36,359		$	7,706
Mortgage loan servicing revenue (expense):
Mortgage loan servicing revenue		7,574			7,296			3,820
Amortization of mortgage servicing rights		(7,893	)		(7,477	)		(1,809	)
Mortgage servicing rights valuation adjustments		5,807			(7,979	)		(234	)
		5,488			(8,160	)		1,777
Net mortgage banking income	$	21,925		$	28,199		$	9,483

Schedule of capitalized mortgage and valuation allowance

Activity for capitalized mortgage servicing rights (“MSRs”) and the related valuation allowance is as follows:

	For the Year Ended December 31,
	2021			2020			2019
	(In Thousands)
Mortgage servicing assets:
Balance at beginning of period	$	21,666		$	10,801		$	10,419
Loans sold, servicing retained		8,471			8,595			2,191
Mortgage servicing rights acquired		—			9,747			—
Amortization		(7,893	)		(7,477	)		(1,809	)
Carrying value before valuation allowance at end of period		22,244			21,666			10,801
Valuation allowance:
Balance at beginning of period		(8,513	)		(534	)		(300	)
Impairment recovery (charges)		5,807			(7,979	)		(234	)
Balance at end of period		(2,706	)		(8,513	)		(534	)
Net carrying value of MSRs at end of period	$	19,538		$	13,153		$	10,267
Fair value of MSRs at end of period	$	20,921		$	13,153		$	10,378

Servicing Portfolio

The Company’s servicing portfolio is comprised of the following:

	December 31,
	2021				2020
	Number of		Principal		Number of		Principal
Investor	Loans		Outstanding		Loans		Outstanding
	(Dollars In Thousands)
Fannie Mae		7,545	$	913,336		8,365	$	998,359
Freddie Mac		16,987		2,012,895		17,385		1,925,717
Federal Home Loan Bank		61		8,260		89		13,143
Other		90		6,805		105		9,826
Totals		24,683	$	2,941,296		25,944	$	2,947,045