XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.23.1

Servicing Assets | 3 Months Ended
--- | ---
Mar. 31, 2023
Transfers And Servicing [Abstract] |
Servicing Assets | Note 4 — Servicing Assets The changes in servicing assets for the three months ended March 31, 2023 and 2022 were as follows:
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Balance at beginning of period |  | $ | 7,176 |  |  | $ | 7,080 |
Addition related to sale of SBA loans |  |  | 615 |  |  |  | 667 |
Amortization |  |  | (635 | ) |  |  | (545 | )
Change in valuation allowance |  |  | 385 |  |  |  | — |
Balance at end of period |  | $ | 7,541 |  |  | $ | 7,202 |
At March 31, 2023 and December 31, 2022, we serviced loans sold to unaffiliated parties of $525.5 million and $523.6 million, respectively. These represented loans that were sold for which the Bank continues to provide servicing. These loans are maintained off-balance sheet and are not included in the loans receivable balance. All of the loans serviced were SBA loans. The Company recorded servicing fee income of $1.3 million and $1.2 million for the three months ended March 31, 2023 and 2022, respectively. Servicing fee income, net of the amortization of servicing assets, is included in other operating income in the consolidated statements of income. Amortization expense was $0.6 million and $0.5 million for the three months ended March 31, 2023 and 2022, respectively. The fair value of servicing rights was $8.6 million at March 31, 2023 and was determined using discount rates ranging from 12.0% to 13.9% and prepayment speeds ranging from 10.9% to 17.2%, depending on the stratification of the specific right. The fair value of servicing rights was $7.1 million at December 31, 2022 and was determined using discount rates ranging from 21.9% to 25.3% and prepayment speeds ranging from 10.8% to 16.7%, depending on the stratification of the specific right.

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

X
- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -Subparagraph (c)(3) -URI https://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b)(2)(ii) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (cc) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122596-111746 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a)(5) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4D -Subparagraph (c)(3) -URI https://asc.fasb.org/extlink&oid=121570589&loc=SL51823488-111719 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b)(2)(i) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122739-111746 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 7 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=109249958&loc=SL34722452-111729 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a)(4)(ii) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI https://asc.fasb.org/topic&trid=2197590 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(7) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122739-111746 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (a)(5)(ii) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122596-111746 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122596-111746 + Details
Name: | us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration