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Capitalized Mortgage Servicing Rights (Tables)

3 Months Ended

Mar. 31, 2025

Transfers and Servicing [Abstract]

Summary of Capitalized MSR Activity

A summary of our capitalized MSR activity is as follows (in thousands):


			Three Months Ended March 31, 2025
			Originated						Acquired						Total
Beginning balance			$	363,861					$	4,817					$	368,678
Additions			9,406						—						9,406
Amortization			(17,195)						(563)						(17,758)
Write-downs and payoffs			(3,067)						(39)						(3,106)
Ending balance			$	353,005					$	4,215					$	357,220

			Three Months Ended March 31, 2024
Beginning balance			$	382,582					$	8,672					$	391,254
Additions			12,684						—						12,684
Amortization			(15,821)						(810)						(16,631)
Write-downs and payoffs			(1,698)						(89)						(1,787)
Ending balance			$	377,747					$	7,773					$	385,520

Summary of Expected Amortization of Capitalized MSRs

The expected amortization of capitalized MSRs recorded at March 31, 2025 is as follows (in thousands):


Year						Amortization
2025 (nine months ending 12/31/2025)						$	52,124
2026						64,715
2027						60,264
2028						53,258
2029						44,145
Thereafter						82,714
Total						$	357,220