XML 53 R38.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Capitalized Mortgage Servicing Rights (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Transfers and Servicing [Abstract] |
Summary of Capitalized MSR Activity | A summary of our capitalized MSR activity is as follows (in thousands):
| Year Ended December 31, 2024 |  | Year Ended December 31, 2023
| Originated |  | Acquired |  | Total |  | Originated |  | Acquired |  | Total
Beginning balance | $ | 382,582 |  |  | $ | 8,672 |  |  | $ | 391,254 |  |  | $ | 386,878 |  |  | $ | 14,593 |  |  | $ | 401,471 |
Additions | 54,346 |  |  | — |  |  | 54,346 |  |  | 67,612 |  |  | — |  |  | 67,612 |
Amortization | (65,570) |  |  | (2,852) |  |  | (68,422) |  |  | (59,182) |  |  | (3,911) |  |  | (63,093) |
Write-downs and payoffs | (7,497) |  |  | (1,003) |  |  | (8,500) |  |  | (12,726) |  |  | (2,010) |  |  | (14,736) |
Ending balance | $ | 363,861 |  |  | $ | 4,817 |  |  | $ | 368,678 |  |  | $ | 382,582 |  |  | $ | 8,672 |  |  | $ | 391,254 |
Summary of Expected Amortization of Capitalized MSRs Recorded | The expected amortization of capitalized MSRs recorded at December 31, 2024 is as follows (in thousands):
Year |  | Amortization
2025 |  | $ | 69,382 |
2026 |  | 64,023 |
2027 |  | 59,510 |
2028 |  | 52,288 |
2029 |  | 43,178 |
Thereafter |  | 80,297 |
Total |  | $ | 368,678 |
At December 31, 2024, the weighted average remaining lives of our amortizable finite-lived intangible assets and the estimated annual amortization expense are as follows ($ in thousands):
| Wtd. Avg. Remaining Life (in years) |  | Estimated Amortization Expense for the Years Ending December 31,
|  | 2025 |  | 2026 |  | 2027 |  |  |  |
Finite‑lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Borrower relationships | 1.5 |  | $ | 1,440 |  |  | $ | 780 |  |  | $ | — |  |  |  |  |
Below market leases | 2.2 |  | 126 |  |  | 126 |  |  | 21 |  |  |  |  |
| 1.6 |  | $ | 1,566 |  |  | $ | 906 |  |  | $ | 21 |  |  |  |  |

X
- Definition Tabular disclosure of activity in the balance of servicing assets subsequently measured at amortized cost. Includes, but is not limited to, beginning and ending balances, additions, disposals, and amortization. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-4 + Details
Name: | us-gaap_ScheduleOfServicingAssetsAtAmortizedValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TransfersAndServicingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration