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Servicing Asset | 12 Months Ended
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Dec. 31, 2025
Transfers and Servicing [Abstract] |
Servicing Asset | Servicing Asset Activity for the servicing asset and the related changes in fair value for the twelve months ended December 31, 2025, 2024 and 2023 are shown in the table below.
|  | Twelve Months Ended |  |
|  | December 31, 2025 |  | December 31, 2024 |  | December 31, 2023 |  |  |  |
Beginning balance |  | $ | 16,389 |  |  | $ | 10,567 |  |  | $ | 6,255 |  |  |  |  |
Additions: |  |  |  |  |  |  |  |  |  |
Originated 1 |  | 11,870 |  |  | 8,359 |  |  | 5,775 |  |  |  |  |
Subtractions: |  |  |  |  |  |  |  |  |  |
Paydowns |  | (4,297) |  |  | (3,005) |  |  | (1,842) |  |  |  |  |
Changes in fair value due to changes in valuation inputs or assumptions used in the valuation model |  | (1,169) |  |  | 468 |  |  | 379 |  |  |  |  |
Loan servicing asset revaluation |  | (5,466) |  |  | (2,537) |  |  | (1,463) |  |  |  |  |
Ending balance |  | $ | 22,793 |  |  | $ | 16,389 |  |  | $ | 10,567 |  |  |  |  |
1 Balance includes $4.1 million of originated servicing asset related to the sale of single tenant lease financing loans sold during 2025. Loans serviced for others are not included in the consolidated balance sheets. The unpaid principal balances of these loans serviced for others as of December 31, 2025, 2024 and 2023 are shown in the table below.
|  | December 31, 2025 |  | December 31, 2024 |  | December 31, 2023 |  |  |  |  |  |
Loan portfolios serviced for: |  |  |  |  |  |  |  |  |  |  |  |
SBA guaranteed loans |  | $ | 1,120,553 |  |  | $ | 862,089 |  |  | $ | 531,927 |  |  |  |  |  |  |
Single tenant lease financing |  | 825,207 |  |  | — |  |  | — |  |  |  |  |  |  |
Total |  | $ | 1,945,760 |  |  | $ | 862,089 |  |  | $ | 531,927 |  |  |  |  |  |  |
Loan servicing revenue totaled $8.7 million, $6.2 million and $3.8 million during the twelve months ended December 31, 2025, 2024 and 2023, respectively. Loan servicing asset revaluation, which represents paydowns and the change in fair value of the servicing asset, resulted in a $5.5 million, $2.5 million and $1.5 million downward valuation for the twelve months ended December 31, 2025, 2024 and 2023, respectively. The fair value of servicing rights is highly sensitive to changes in underlying assumptions. Though fluctuations in prepayment speeds and changes in secondary market premiums generally have the most substantial impact on the fair value of servicing rights, other influencing factors include changing economic conditions, changes to the discount rate assumption and the weighted average life of the servicing portfolio. Measurement of fair value is limited to the conditions existing and the assumptions used as of a particular point in time; however, those assumptions may change over time. Refer to Note 16 - Fair Value of Financial Instruments for further details.

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- 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 -Topic 815 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI 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