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Mortgage Loan Servicing, Origination, and Loans Held for Sale (Tables)

12 Months Ended

Dec. 31, 2022

Mortgage Loan Servicing, Origination, and Loans Held for Sale

Summary of changes in the fair value of MSRs and its offsetting hedge


		Year Ended December 31,
(Dollars in thousands)		2022			2021			2020
Increase in fair value of MSRs		$	14,886		$	9,930		$	(7,421)
Decay of MSRs			(9,897)			(14,863)			(8,793)
Loss related to derivatives			(18,212)			(4,892)			10,177
Net effect on Consolidated Statements of Income		$	(13,223)		$	(9,825)		$	(6,037)

Schedule of characteristics and sensitivity analysis of the MSR


		December 31,
(Dollars in thousands)		2022			2021
Composition of residential loans serviced for others
Fixed-rate mortgage loans			100.0	%		99.9	%
Adjustable-rate mortgage loans			—	%		0.1	%
Total			100.0	%		100.0	%
Weighted average life			8.37	years		7.35	years
Constant Prepayment rate (CPR)			6.4	%		8.4	%
Weighted average discount rate			10.0	%		9.0	%
Effect on fair value due to change in interest rates
25 basis point increase		$	774		$	3,961
50 basis point increase			1,428			7,261
25 basis point decrease			(902)			(4,371)
50 basis point decrease			(1,938)			(8,966)