Mortgage Banking (Tables)

3 Months Ended

Mar. 31, 2022

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:

	Three Months Ended March 31,
	2022			2021
	(In Thousands)
Mortgage banking gain, net	$	2,543		$	5,640
Mortgage loans servicing revenue (expense):
Mortgage loans servicing revenue		1,879			1,917
Amortization of mortgage servicing rights		(1,403	)		(2,344	)
Mortgage servicing rights valuation adjustments		1,233			5,320
		1,709			4,893
Net revenue from sale and servicing of mortgage loans	$	4,252		$	10,533

Schedule of capitalized mortgage and valuation allowance

Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022			2021
	(In Thousands)
Mortgage servicing assets:
Balance at beginning of period	$	22,244		$	21,666
Loans sold, servicing retained		1,348			2,374
Amortization		(1,403	)		(2,344	)
Carrying value before valuation allowance at end of period		22,189			21,696
Valuation allowance:
Balance at beginning of period		(2,707	)		(8,513	)
Impairment recovery (charges)		1,233			5,320
Balance at end of period		(1,474	)		(3,193	)
Net carrying value of MSRs at end of period	$	20,715		$	18,503
Fair value of MSRs at end of period	$	25,996		$	18,695