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Mortgage Loan Servicing, Origination, and Loans Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 2023
Mortgage Loan Servicing, 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, 2023 |  | September 30, 2022 |  | September 30, 2023 |  | September 30, 2022 |  | ​
Increase in fair value of MSRs | ​ | $ | 1,762 | ​ | $ | 2,661 | ​ | $ | 2,450 | ​ | $ | 18,274 | ​ | ​
Decay of MSRs | ​ |  | (2,543) | ​ |  | (2,530) | ​ |  | (6,336) | ​ |  | (8,052) | ​ | ​
Loss related to derivatives | ​ | ​ | (2,170) | ​ | ​ | (3,572) | ​ | ​ | (4,288) | ​ | ​ | (17,963) | ​ | ​
Net effect on Consolidated Statements of Net Income | ​ | $ | (2,951) | ​ | $ | (3,441) | ​ | $ | (8,174) | ​ | $ | (7,741) | ​ | ​
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) |  | 2023 |  |  | 2022 |
Composition of residential loans serviced for others | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fixed-rate mortgage loans | ​ | ​ | 100.0 | % | ​ | ​ | 100.0 | %
Adjustable-rate mortgage loans | ​ | ​ | — | % | ​ | ​ | — | %
Total | ​ | ​ | 100.0 | % | ​ | ​ | 100.0 | %
Weighted average life | ​ | ​ | 8.26 | years | ​ | ​ | 8.37 | years
Constant Prepayment rate (CPR) | ​ | ​ | 6.6 | % | ​ | ​ | 6.4 | %
Weighted average discount rate | ​ | ​ | 10.6 | % | ​ | ​ | 10.0 | %
Effect on fair value due to change in interest rates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
25 basis point increase | ​ | $ | 686 | ​ | ​ | $ | 774 | ​
50 basis point increase | ​ | ​ | 1,231 | ​ | ​ | ​ | 1,428 | ​
25 basis point decrease | ​ | ​ | (848) | ​ | ​ | ​ | (902) | ​
50 basis point decrease | ​ | ​ | (1,877) | ​ | ​ | ​ | (1,938) | ​

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