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MORTGAGE SERVICING RIGHTS (Tables) | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of gross carrying value and accumulated amortization related to intangible assets | The following table presents mortgage loans serviced for others by investor, which totaled $1.16 billion and $1.18 billion as of June 30, 2025 and December 31, 2024, respectively.
(dollars in thousands) | June 30, 2025 |  | December 31, 2024
Mortgage loan portfolio serviced for: |  |  |
Federal National Mortgage Association | $ | 717,197 |  |  | $ | 720,070 |
Federal Home Loan Mortgage Corporation | 445,417 |  |  | 457,228 |
Federal Home Loan Bank | 361 |  |  | 444 |
Total loans serviced for others | $ | 1,162,975 |  |  | $ | 1,177,742 |
The following tables present changes in mortgage servicing rights ("MSR") for the periods presented:
(dollars in thousands) |  |
Balance at March 31, 2025 |  | $ | 8,418 |
Additions |  | 223 |
Amortization |  | (205) |
Balance at June 30, 2025 |  | $ | 8,436 |
Balance at March 31, 2024 |  | $ | 8,599 |
Additions |  | 229 |
Amortization |  | (192) |
Balance at June 30, 2024 |  | $ | 8,636 |
(dollars in thousands) |  |
Balance at December 31, 2024 |  | $ | 8,473 |
Additions |  | 360 |
Amortization |  | (397) |
Balance at June 30, 2025 |  | $ | 8,436 |
Balance at December 31, 2023 |  | $ | 8,696 |
Additions |  | 310 |
Amortization |  | (370) |
Balance at June 30, 2024 |  | $ | 8,636 |
Schedule of fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights | The following table presents the fair market value and key assumptions used in determining the fair market value of MSR as of the dates presented:
(dollars in thousands) | June 30, 2025 |  | December 31, 2024 |  |
Fair market value, beginning of year | $ | 12,387 |  |  | $ | 12,185 |  |  |
Fair market value, end of period | 11,897 |  |  | 12,387 |  |  |
Weighted average discount rate | 9.5 | % |  | 9.5 | % |  |
Weighted average prepayment speed assumption | 10.5 |  |  | 10.2 |  |  |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + 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) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
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