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Mortgage Loan Servicing, Origination, and Loans Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 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 |  | Nine Months Ended | ​
(Dollars in thousands) |  | September 30, 2024 |  | September 30, 2023 |  | September 30, 2024 |  | September 30, 2023 |
(Decrease)/increase in fair value of MSRs | ​ | $ | (5,560) | ​ | $ | 1,762 | ​ | $ | (2,346) | ​ | $ | 2,450 | ​
Decay of MSRs | ​ |  | (2,508) | ​ |  | (2,543) | ​ |  | (6,515) | ​ |  | (6,336) | ​
Gain (loss) related to derivatives | ​ | ​ | 3,815 | ​ | ​ | (2,170) | ​ | ​ | (189) | ​ | ​ | (4,288) | ​
Net effect on Consolidated Statements of Income | ​ | $ | (4,253) | ​ | $ | (2,951) | ​ | $ | (9,050) | ​ | $ | (8,174) | ​
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) |  | 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 | ​ | ​ | 7.64 | years | ​ | ​ | 8.03 | years | ​
Constant Prepayment rate (CPR) | ​ | ​ | 7.8 | % | ​ | ​ | 7.0 | % | ​
Estimated impact on fair value of a 10% increase | ​ | $ | (875) | ​ | ​ | $ | (522) | ​ | ​
Estimated impact on fair value of a 20% increase | ​ | ​ | (1,705) | ​ | ​ | ​ | (1,014) | ​ | ​
Estimated impact on fair value of a 10% decrease | ​ | ​ | 943 | ​ | ​ | ​ | 551 | ​ | ​
Estimated impact on fair value of a 20% decrease | ​ | ​ | 1,957 | ​ | ​ | ​ | 1,128 | ​ | ​
Weighted average discount rate | ​ | ​ | 10.6 | % | ​ | ​ | 10.7 | % | ​
Estimated impact on fair value of a 10% increase | ​ | $ | (3,230) | ​ | ​ | $ | (3,270) | ​ | ​
Estimated impact on fair value of a 20% increase | ​ | ​ | (6,340) | ​ | ​ | ​ | (6,458) | ​ | ​
Estimated impact on fair value of a 10% decrease | ​ | ​ | 3,243 | ​ | ​ | ​ | 3,242 | ​ | ​
Estimated impact on fair value of a 20% decrease | ​ | ​ | 6,338 | ​ | ​ | ​ | 6,283 | ​ | ​
Effect on fair value due to change in interest rates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
25 basis point increase | ​ | $ | 2,110 | ​ | ​ | $ | 1,647 | ​ | ​
50 basis point increase | ​ | ​ | 4,156 | ​ | ​ | ​ | 3,189 | ​ | ​
25 basis point decrease | ​ | ​ | (2,160) | ​ | ​ | ​ | (1,723) | ​ | ​
50 basis point decrease | ​ | ​ | (4,266) | ​ | ​ | ​ | (3,501) | ​ | ​

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