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Loan Servicing, Mortgage Origination, and Loans Held for Sale (Tables) | 3 Months Ended
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Mar. 31, 2021
Loan Servicing, Mortgage Origination, and Loans Held for Sale |
Summary of changes in the fair value of MSRs and its offsetting hedge | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ |
(Dollars in thousands) |  | March 31, 2021 |  | March 31, 2020 |  | ​
Increase (decrease) in fair value of MSRs | ​ | $ | 8,076 | ​ | $ | (4,919) | ​ | ​
Decay of MSRs | ​ |  | (4,561) | ​ |  | (1,204) | ​ | ​
Loss related to derivatives | ​ | ​ | (6,404) | ​ | ​ | 9,607 | ​ | ​
Net effect on statements of income | ​ | $ | (2,889) | ​ | $ | 3,484 | ​ | ​
Schedule of characteristics and sensitivity analysis of the MSR | The characteristics and sensitivity analysis of the MSRs are included in the following table. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | ​ | December 31, | ​ | ​
(Dollars in thousands) |  | 2021 |  |  | 2020 |  |
Composition of residential loans serviced for others | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fixed-rate mortgage loans | ​ | ​ | 99.9 | % | ​ | ​ | 99.9 | % | ​
Adjustable-rate mortgage loans | ​ | ​ | 0.1 | % | ​ | ​ | 0.1 | % | ​
Total | ​ | ​ | 100.0 | % | ​ | ​ | 100.0 | % | ​
Weighted average life | ​ | ​ | 7.11 | years | ​ | ​ | 6.10 | years | ​
Constant Prepayment rate (CPR) | ​ | ​ | 9.5 | % | ​ | ​ | 12.3 | % | ​
Weighted average discount rate | ​ | ​ | 9.0 | % | ​ | ​ | 9.0 | % | ​
Effect on fair value due to change in interest rates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
25 basis point increase | ​ | $ | 2,603 | ​ | ​ | $ | 2,744 | ​ | ​
50 basis point increase | ​ | ​ | 4,970 | ​ | ​ | ​ | 5,520 | ​ | ​
25 basis point decrease | ​ | ​ | (2,782) | ​ | ​ | ​ | (2,497) | ​ | ​
50 basis point decrease | ​ | ​ | (4,288) | ​ | ​ | ​ | (4,114) | ​ | ​

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- Definition Tabular disclosure of changes in the fair value of Mortgage Servicing Rights (MSRs) and its offsetting hedge. + References No definition available. + Details
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- Definition Tabular disclosure related to composition of residential mortgages serviced for others, characteristics and sensitivity analysis of the mortgage servicing rights. + References No definition available. + Details
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