Mortgage Banking (Tables)

3 Months Ended

Mar. 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:

	Three Months Ended March 31,
	2021			2020
	(In Thousands)
Gain from sale of mortgage loans	$	5,640		$	4,902
Mortgage loans servicing revenue (expense):
Mortgage loans servicing revenue		1,917			1,594
Amortization of mortgage servicing rights		(2,344	)		(1,163	)
Mortgage servicing rights valuation adjustments		5,320			(4,485	)
		4,893			(4,054	)
Net revenue from sale and servicing of mortgage loans	$	10,533		$	848

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, 2021 and 2020:

	Three Months Ended March 31,
	2021			2020
	(In Thousands)
Mortgage servicing assets:
Balance at beginning of period	$	21,666		$	10,801
Loans sold, servicing retained		2,374			1,376
Mortgage servicing rights acquired		—			9,747
Amortization		(2,344	)		(1,163	)
Carrying value before valuation allowance at end of period		21,696			20,761
Valuation allowance:
Balance at beginning of period		(8,513	)		(534	)
Impairment recovery (charges)		5,320			(4,485	)
Balance at end of period		(3,193	)		(5,019	)
Net carrying value of MSRs at end of period	$	18,503		$	15,742
Fair value of MSRs at end of period	$	18,695		$	16,105