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Mortgage Banking Activities (Tables)
9 Months Ended
Sep. 30, 2023
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 September 30, 2023December 31, 2022
 Unpaid Principal Balance/
Notional
Fair ValueUnpaid Principal Balance/
Notional
Fair Value
Residential mortgage loans held for sale$71,304 $69,653 $74,941 $73,938 
Residential mortgage loan commitments49,285 1,541 45,492 1,054 
Forward sales contracts102,529 1,295 109,469 280 
  $72,489  $75,272 
Mortgage Banking Revenue [Table Text Block] Mortgage banking revenue was as follows (in thousands):
 Three Months Ended
September 30,
Nine Months Ended
Sep. 30,
 2023202220232022
Production revenue:  
Net realized gains (losses) on sale of mortgage loans$(1,631)$(1,072)$(3,658)$8,969 
Net change in unrealized loss on mortgage loans held for sale(522)(6,244)(648)(9,764)
Net change in the fair value of mortgage loan commitments(288)(3,174)487 (5,474)
Net change in the fair value of forward sales contracts554 8,084 1,015 8,414 
Total production revenue (loss)(1,887)(2,406)(2,804)2,145 
Servicing revenue15,243 13,688 45,668 37,155 
Total mortgage banking revenue$13,356 $11,282 $42,864 $39,300 
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 September 30, 2023December 31, 2022
Number of residential mortgage loans serviced for others116,941 110,541 
Outstanding principal balance of residential mortgage loans serviced for others$20,607,013 $18,863,201 
Weighted average interest rate3.61 %3.59 %
Remaining term (in months)282283
Activity in Capitalized Mortgage Servicing Rights [Table Text Block] The following represents activity in capitalized mortgage servicing rights (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Beginning Balance$304,722 $270,312 $277,608 $163,198 
Additions3,154 4,841 9,757 15,810 
Acquisitions2,669 1,043 33,807 45,910 
Change in fair value due to principal payments(7,202)(8,960)(21,031)(24,277)
Change in fair value due to market assumption changes8,039 16,570 11,241 83,165 
Ending Balance$311,382 $283,806 $311,382 $283,806 
Assumptions to Value Mortgage Servicing Rights [Table Text Block]
Mortgage servicing rights are not traded in active markets. Fair value is determined by discounting the projected net cash flows. Significant market assumptions used to determine fair value based on significant unobservable inputs were as follows:
 September 30, 2023December 31, 2022
Discount rate – risk-free rate plus a market premium9.84%9.51%
Prepayment rate - based upon loan interest rate, original term and loan type7.15%7.54%
Loan servicing costs – annually per loan based upon loan type:
Performing loans
$69 - $94
$69 - $94
Delinquent loans
$150 - $500
$150 - $500
Loans in foreclosure
$875 - $8,000
$875 - $8,000
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
4.66%4.06%
Primary/secondary mortgage rate spread
105 bps105 bps
Delinquency rate
2.00%2.33%