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

3 Months Ended

Mar. 31, 2024

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					​
(Dollars in thousands)		March 31, 2024			March 31, 2023
Increase/(decrease) in fair value of MSRs	​	$	2,384	​	$	(1,290)	​
Decay of MSRs	​		(1,442)	​		(1,409)	​
(Loss) gain related to derivatives	​	​	(2,580)	​	​	145	​
Net effect on Consolidated Statements of Income	​	$	(1,638)	​	$	(2,554)	​

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)		2024				2023
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	​	​	8.04	years	​	​	8.03	years	​
Constant Prepayment rate (CPR)	​	​	7.0	%	​	​	7.0	%	​
Estimated impact on fair value of a 10% increase	​	$	(528)	​	​	$	(522)	​	​
Estimated impact on fair value of a 20% increase	​	​	(1,037)	​	​	​	(1,014)	​	​
Estimated impact on fair value of a 10% decrease	​	​	546	​	​	​	551	​	​
Estimated impact on fair value of a 20% decrease	​	​	1,106	​	​	​	1,128	​	​
Weighted average discount rate	​	​	10.8	%	​	​	10.7	%	​
Estimated impact on fair value of a 10% increase	​	$	(3,192)	​	​	$	(3,270)	​	​
Estimated impact on fair value of a 20% increase	​	​	(6,377)	​	​	​	(6,458)	​	​
Estimated impact on fair value of a 10% decrease	​	​	3,061	​	​	​	3,242	​	​
Estimated impact on fair value of a 20% decrease	​	​	5,804	​	​	​	6,283	​	​
Effect on fair value due to change in interest rates	​	​	​	​	​	​	​	​	​
25 basis point increase	​	$	1,595	​	​	$	1,647	​	​
50 basis point increase	​	​	3,044	​	​	​	3,189	​	​
25 basis point decrease	​	​	(1,729)	​	​	​	(1,723)	​	​
50 basis point decrease	​	​	(3,548)	​	​	​	(3,501)	​	​

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Tabular disclosure of changes in the fair value of Mortgage Servicing Rights (MSRs) and its offsetting hedge.

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Tabular disclosure related to composition of residential mortgages serviced for others, characteristics and sensitivity analysis of the mortgage servicing rights.

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