Mortgage Banking (Tables)

6 Months Ended

Jun. 30, 2020

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 June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
	(In Thousands)
Gain from sale of mortgage loans	$	11,530		$	1,775		$	16,432		$	3,076
Mortgage loans servicing revenue (expense):
Mortgage loans servicing revenue		1,888			943			3,482			1,882
Amortization of mortgage servicing rights		(2,181	)		(391	)		(3,344	)		(677	)
Mortgage servicing rights valuation adjustments		(1,369	)		(190	)		(5,854	)		(303	)
		(1,662	)		362			(5,716	)		902
Net revenue from sale and servicing of mortgage loans	$	9,868		$	2,137		$	10,716		$	3,978

Schedule of capitalized mortgage and valuation allowance

Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
	(In Thousands)
Mortgage servicing assets:
Balance at beginning of period	$	20,761		$	10,411		$	10,801		$	10,419
Loans sold, servicing retained		2,454			438			3,830			716
Mortgage servicing rights acquired		—			—			9,747			—
Amortization		(2,181	)		(391	)		(3,344	)		(677	)
Carrying value before valuation allowance at end of period		21,034			10,458			21,034			10,458
Valuation allowance:
Balance at beginning of period		(5,019	)		(413	)		(534	)		(300	)
Impairment recovery (charges)		(1,369	)		(190	)		(5,854	)		(303	)
Balance at end of period		(6,388	)		(603	)		(6,388	)		(603	)
Net carrying value of MSRs at end of period	$	14,646		$	9,855		$	14,646		$	9,855
Fair value of MSRs at end of period	$	14,646		$	9,925		$	14,646		$	9,925