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MORTGAGE BANKING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2026

MORTGAGE BANKING ACTIVITIES

Activity for mortgage loans HFS, at fair value

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​	​	​	​	​	​	​	​
​	​ ​ ​	Three Months Ended					​ ​ ​
​	​	March 31,					​
(in thousands)	​	2026		​ ​ ​	2025		​
​	​	​	​	​	​	​	​
Balance, beginning of period	​	$	7,516	​	$	8,312	​
Origination of mortgage loans held for sale	​		47,990	​		41,233	​
Transferred from held for investment to held for sale	​	​	—	​	​	—	​
Proceeds from the sale of mortgage loans held for sale	​		(44,042)	​		(41,816)	​
Net gain on mortgage loans held for sale	​		1,489	​		1,411	​
Balance, end of period	​	$	12,953	​	$	9,140	​

Components of mortgage banking income

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​	​	​	​	​	​	​	​
​	​ ​ ​	Three Months Ended					​
​	​	March 31,					​
(in thousands)	​	2026		​ ​ ​	2025		​
​	​	​	​	​	​	​	​
Net gain realized on sale of mortgage loans held for sale	​	$	1,039	​	$	1,283	​
Net change in fair value recognized on loans held for sale	​		(58)	​		(45)	​
Net change in fair value recognized on rate lock loan commitments	​		79	​		312	​
Net change in fair value recognized on forward contracts	​		429	​		(139)	​
Net gain recognized	​		1,489	​		1,411	​
​	​	​	​	​	​	​	​
Loan servicing income	​		831	​		825	​
Amortization of mortgage servicing rights	​		(495)	​		(415)	​
Net servicing income recognized	​		336	​		410	​
Total mortgage banking income	​	$	1,825	​	$	1,821	​

Activity for capitalized MSRs

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​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
(in thousands)	​ ​ ​	2026		​ ​ ​	2025
​	​	​	​	​	​	​
Balance, beginning of period	​	$	6,811	​	$	6,975
Additions	​		377	​		316
Amortized to expense	​		(495)	​		(415)
Balance, end of period	​	$	6,693	​	$	6,876

Other information relating to MSRs

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​	​	​	​	​	​	​	​	​	​
(dollars in thousands)	​ ​ ​	March 31, 2026		​	​	December 31, 2025		​
​	​	​	​	​	​	​	​	​	​
Fair value of mortgage servicing rights portfolio	​	$	17,702	​	​	$	17,432	​	​
Monthly weighted average prepayment rate of unpaid principal balance*	​		132	%	​		131	%	​
Discount rate	​	​	9.74	%	​	​	9.74	%	​
Weighted average foreclosure rate	​	​	0.08	%	​	​	0.09	%	​
Weighted average life in years	​		7.34	​	​		7.35	​	​

* Rates are applied to individual tranches with similar characteristics.

Schedule of notional amounts and fair values of mortgage loans HFS at fair value and mortgage banking derivatives

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March 31, 2026

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December 31, 2025

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Notional

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Notional

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(in thousands)

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Amount

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Fair Value

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Amount

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Fair Value

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Included in Mortgage loans held for sale:

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Mortgage loans held for sale, at fair value

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$

12,862

​

$

12,953

​

$

7,367

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$

7,516

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​

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Included in other assets:

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​

​

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Rate lock loan commitments

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$

34,774

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$

358

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$

12,617

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$

279

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Mandatory forward contracts

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​

38,505

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​

400

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—

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—

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Included in other liabilities:

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​

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​

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​

​

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Mandatory forward contracts

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$

—

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$

—

​

$

16,280

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$

29

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​

X

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- Definition

Tabular disclosure of all information related to the key inputs and assumptions (including, at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses) used in measuring the fair value of assets or liabilities that relate to the transferor's continuing involvement with transferred financial assets, as of the balance sheet date.

+ References

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-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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