Mortgage Banking (Tables)

6 Months Ended

Jun. 30, 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 June 30,					Six Months Ended June 30,
	2021		2020			2021		2020
	(In Thousands)
Mortgage banking gain, net	$	2,670	$	11,530		$	8,311	$	16,432
Mortgage loans servicing revenue (expense):
Mortgage loans servicing revenue		1,888		1,888			3,805		3,482
Amortization of mortgage servicing rights		(1,953)		(2,181	)		(4,297)		(3,344	)
Mortgage servicing rights valuation adjustments		(448)		(1,369	)		4,872		(5,854	)
		(513)		(1,662	)		4,380		(5,716	)
Net revenue from sale and servicing of mortgage loans	$	2,157	$	9,868		$	12,691	$	10,716

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, 2021 and 2020:

	Three Months Ended June 30,					Six Months Ended June 30,
	2021		2020			2021		2020
	(In Thousands)
Mortgage servicing assets:
Balance at beginning of period	$	21,696	$	20,761		$	21,666	$	10,801
Loans sold, servicing retained		1,939		2,454			4,313		3,830
Mortgage servicing rights acquired		—		—			—		9,747
Amortization		(1,953)		(2,181	)		(4,297)		(3,344	)
Carrying value before valuation allowance at end of period		21,682		21,034			21,682		21,034
Valuation allowance:
Balance at beginning of period		(3,193)		(5,019	)		(8,513)		(534	)
Impairment recovery (charges)		(448)		(1,369	)		4,872		(5,854	)
Balance at end of period		(3,641)		(6,388	)		(3,641)		(6,388	)
Net carrying value of MSRs at end of period	$	18,041	$	14,646		$	18,041	$	14,646
Fair value of MSRs at end of period	$	18,054	$	14,646		$	18,054	$	14,646