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LOAN SERVICING RIGHTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Transfers and Servicing [Abstract] |
Schedule of Carrying Value of Loan Servicing Rights Assets | The carrying value of the loan servicing rights assets is shown in the table below:
(dollars in thousands) | September 30, 2025 |  | December 31, 2024
Loan Servicing Rights |  |  |
Residential mortgage | $ | 106,411 |  |  | $ | 112,514 |
SBA | 2,618 |  |  | 2,926 |
Total loan servicing rights | $ | 109,029 |  |  | $ | 115,440 |
The table below is an analysis of the activity in the Company’s MSRs and valuation allowance:
(dollars in thousands) | Three Months Ended September 30, |  | Nine Months Ended September 30,
Residential mortgage servicing rights | 2025 |  | 2024 |  | 2025 |  | 2024
Beginning carrying value, net | $ | 126,022 |  |  | $ | 145,306 |  |  | $ | 112,514 |  |  | $ | 171,915 |
Additions | 9,749 |  |  | 8,748 |  |  | 29,857 |  |  | 21,625 |
Amortization | (3,575) |  |  | (3,926) |  |  | (10,175) |  |  | (14,593) |
Disposals | (25,785) |  |  | (48,273) |  |  | (25,785) |  |  | (77,092) |
Ending carrying value, net | $ | 106,411 |  |  | $ | 101,855 |  |  | $ | 106,411 |  |  | $ | 101,855 |
The table below is an analysis of the activity in the Company’s SBA loan servicing rights and valuation allowance:
(dollars in thousands) | Three Months Ended September 30, |  | Nine Months Ended September 30,
SBA servicing rights | 2025 |  | 2024 |  | 2025 |  | 2024
Beginning carrying value, net | $ | 2,786 |  |  | $ | 2,156 |  |  | $ | 2,926 |  |  | $ | 2,737 |
Additions | 5 |  |  | 16 |  |  | 291 |  |  | 92 |
Amortization | (173) |  |  | (245) |  |  | (599) |  |  | (902) |
Ending carrying value, net | $ | 2,618 |  |  | $ | 1,927 |  |  | $ | 2,618 |  |  | $ | 1,927 |
Schedule of Sensitivity of Fair Value to Adverse Changes in Model Inputs and/or Assumptions | The key metrics and the sensitivity of the fair value to adverse changes in model inputs and/or assumptions are summarized below:
(dollars in thousands) | September 30, 2025 |  | December 31, 2024
Residential mortgage servicing rights |  |  |
Unpaid principal balance of loans serviced for others | $ | 8,187,640 |  |  | $ | 8,856,724 |
Composition of residential loans serviced for others: |  |  |
FHLMC | 23.87 | % |  | 24.51 | %
FNMA | 64.12 | % |  | 68.42 | %
GNMA | 12.01 | % |  | 7.07 | %
Total | 100.00 | % |  | 100.00 | %
Weighted average term (months) | 353 |  | 353
Weighted average age (months) | 41 |  | 33
Modeled prepayment speed | 7.62 | % |  | 7.37 | %
Decline in fair value due to a 10% adverse change | $ | (4,263) |  |  | $ | (2,474) |
Decline in fair value due to a 20% adverse change | $ | (8,369) |  |  | $ | (5,227) |
Weighted average discount rate | 9.41 | % |  | 10.79 | %
Decline in fair value due to a 10% adverse change | $ | (5,453) |  |  | $ | (3,283) |
Decline in fair value due to a 20% adverse change | $ | (10,673) |  |  | $ | (7,379) |
(dollars in thousands) | September 30, 2025 |  | December 31, 2024
SBA servicing rights |  |  |
Unpaid principal balance of loans serviced for others | $ | 223,159 |  |  | $ | 235,793 |
Weighted average life (in years) | 3.38 |  | 3.18
Modeled prepayment speed | 16.90 | % |  | 18.95 | %
Decline in fair value due to a 10% adverse change | $ | (160) |  |  | $ | (192) |
Decline in fair value due to a 20% adverse change | $ | (306) |  |  | $ | (366) |
Weighted average discount rate | 11.73 | % |  | 11.27 | %
Decline in fair value due to a 100 basis point adverse change | $ | (81) |  |  | $ | (97) |
Decline in fair value due to a 200 basis point adverse change | $ | (158) |  |  | $ | (190) |

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- Definition Tabular disclosure of a sensitivity analysis or stress test showing the hypothetical effect on the fair value of the transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) of two or more unfavorable variations from the expected levels for each key assumption that is reported, independently determined from any change in another key assumption, and a description of the objectives, methodology, and limitations of the sensitivity analysis or stress test. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4 + Details
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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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