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Mortgage Banking Activities (Tables) | 12 Months Ended
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Dec. 31, 2023
Mortgage Banking [Abstract] |
Components of Residential Mortgage Loans Held For Sale [Table Text Block] | The unpaid principal balance of residential mortgage loans held for sale, notional amounts of derivative contracts related to residential mortgage loan commitments and forward contract sales and their related fair values included in Mortgage loans held for sale on the Consolidated Balance Sheets were (in thousands):
|  | December 31, 2023 |  | December 31, 2022
|  | Unpaid Principal Balance/ Notional |  | Fair Value |  | Unpaid Principal Balance/ Notional |  | Fair Value
Residential mortgage loans held for sale |  | $ | 56,922 |  |  | $ | 56,457 |  |  | $ | 74,941 |  |  | $ | 73,938 |
Residential mortgage loan commitments |  | 34,783 |  |  | 1,379 |  |  | 45,492 |  |  | 1,054 |
Forward sales contracts |  | 75,448 |  |  | (901) |  |  | 109,469 |  |  | 280 |
|  |  |  | $ | 56,935 |  |  |  |  | $ | 75,272 |
No residential mortgage loans held for sale were 90 days or more past due or considered impaired as of December 31, 2023 or December 31, 2022. No credit losses were recognized on residential mortgage loans held for sale for the years ended December 31, 2023, 2022 and 2021.
Mortgage Banking Revenue [Table Text Block] | Mortgage banking revenue was as follows (in thousands):
|  | Year Ended
|  | 2023 |  | 2022 |  | 2021
Production revenue: |  |  |  |  |  |
Net realized gain (loss) on sales of mortgage loans |  | $ | (5,021) |  |  | $ | 7,416 |  |  | $ | 76,282 |
Net change in unrealized gain on mortgage loans held for sale |  | 538 |  |  | (4,468) |  |  | (5,818) |
Net change in the fair value of mortgage loan commitments |  | 325 |  |  | (5,113) |  |  | (14,268) |
Net change in the fair value of forward sales contracts |  | (1,181) |  |  | 327 |  |  | 4,516 |
Total mortgage production revenue |  | (5,339) |  |  | (1,838) |  |  | 60,712 |
Servicing revenue |  | 61,037 |  |  | 51,203 |  |  | 45,184 |
Total mortgage banking revenue |  | $ | 55,698 |  |  | $ | 49,365 |  |  | $ | 105,896 |
Summary of Mortgage Servicing Rights [Table Text Block] | The following represents a summary of mortgage servicing rights (dollars in thousands):
|  | December 31,
|  | 2023 |  | 2022 |  | 2021
Number of residential mortgage loans serviced for others |  | 115,967 |  |  | 110,541 |  |  | 102,008 |
Outstanding principal balance of residential mortgage loans serviced for others |  | $ | 20,382,192 |  |  | $ | 18,863,201 |  |  | $ | 16,442,446 |
Weighted average interest rate |  | 3.64 | % |  | 3.59 | % |  | 3.58 | %
Remaining contractual term (in months) |  | 280 |  | 283 |  | 281
Activity in Capitalized Mortgage Servicing Rights [Table Text Block] | Activity in capitalized mortgage servicing rights during the three years ended December 31, 2023 is as follows (in thousands):
Balance, December 31, 2020 |  | $ | 101,172 |
Additions |  | 31,132 |
Acquisitions |  | 28,018 |
Change in fair value due to loan runoff |  | (38,761) |
Change in fair value due to market changes |  | 41,637 |
Balance, December 31, 2021 |  | 163,198 |
Additions |  | 18,215 |
Acquisitions |  | 47,675 |
Change in fair value due to loan runoff |  | (31,741) |
Change in fair value due to market changes |  | 80,261 |
Balance, December 31, 2022 |  | 277,608 |
Additions |  | 12,142 |
Acquisitions |  | 34,593 |
Change in fair value due to loan runoff |  | (27,344) |
Change in fair value due to market changes |  | (3,115) |
Balance, December 31, 2023 |  | $ | 293,884 |
Assumptions to Value Mortgage Servicing Rights [Table Text Block] | Significant assumptions used to determine fair value considered to be significant unobservable inputs were as follows:
|  | December 31,
|  | 2023 |  | 2022
Discount rate – risk-free rate plus a market premium |  | 9.72% |  | 9.51%
Prepayment rate - based upon loan interest rate, original term and loan type |  | 7.34% |  | 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
Primary/secondary mortgage rate spread |  | 105 bps |  | 105 bps
Escrow earnings rate – indexed to rates paid on deposit accounts with a comparable average life |  | 3.90% |  | 4.06%
Delinquency rate |  | 2.06% |  | 2.33%

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- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481229/860-50-50-3 + Details
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