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Loan Servicing, Mortgage Origination, and Loans Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 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 |  | Nine Months Ended | ​ |
(Dollars in thousands) |  | September 30, 2021 |  | September 30, 2020 |  | September 30, 2021 |  | September 30, 2020 |  | ​
Increase (decrease) in fair value of MSRs | ​ | $ | 1,659 | ​ | $ | 1,020 | ​ | $ | 7,543 | ​ | $ | (9,078) | ​ | ​
Decay of MSRs | ​ |  | (3,427) | ​ |  | (2,391) | ​ |  | (11,276) | ​ |  | (5,590) | ​ | ​
Gain (loss) related to derivatives | ​ | ​ | (577) | ​ | ​ | 619 | ​ | ​ | (4,178) | ​ | ​ | 10,915 | ​ | ​
Net effect on statements of income | ​ | $ | (2,345) | ​ | $ | (752) | ​ | $ | (7,911) | ​ | $ | (3,753) | ​ | ​
Schedule of characteristics and sensitivity analysis of the MSR | The characteristics and sensitivity analysis of the MSRs are included in the following table.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | ​ | 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 | ​ | ​ | 7.14 | years | ​ | ​ | 6.10 | years | ​
Constant Prepayment rate (CPR) | ​ | ​ | 8.9 | % | ​ | ​ | 12.3 | % | ​
Weighted average discount rate | ​ | ​ | 9.0 | % | ​ | ​ | 9.0 | % | ​
Effect on fair value due to change in interest rates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
25 basis point increase | ​ | $ | 3,906 | ​ | ​ | $ | 2,744 | ​ | ​
50 basis point increase | ​ | ​ | 7,442 | ​ | ​ | ​ | 5,520 | ​ | ​
25 basis point decrease | ​ | ​ | (4,040) | ​ | ​ | ​ | (2,497) | ​ | ​
50 basis point decrease | ​ | ​ | (7,660) | ​ | ​ | ​ | (4,114) | ​ | ​

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