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Servicing Assets (Tables)

9 Months Ended

Sep. 30, 2021

Mortgage Servicing Rights

Servicing Assets at Fair Value [Line Items]

Schedule of servicing assets

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended September 30,				​	Nine Months Ended September 30,
(dollars in thousands)	​	2021			2020	​	2021			2020
Balance at beginning of the period	​	$	8,942	​	1,294	​	$	4,647	​	446
Servicing rights capitalized	​	​	1,360	​	1,333	​	​	5,856	​	2,469
Amortization of servicing rights	​	​	(316)	​	(90)	​	​	(786)	​	(173)
Change in valuation allowance	​	​	111	​	102	​	​	380	​	(103)
Balance at end of the period	​	$	10,097	​	2,639	​	$	10,097	​	2,639

Schedule of valuation allowance for servicing assets

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended September 30,				​	Nine Months Ended September 30,
(dollars in thousands)	​	2021			2020	​	2021			2020
Valuation allowance, beginning of period	​	$	(166)	​	(303)	​	$	(435)	​	(98)
Impairment	​	​	—	​	—	​	​	—	​	(103)
Recovery	​	​	111	​	102	​	​	380	​	—
Valuation allowance, end of period	​	$	(55)	​	(201)	​	$	(55)	​	(201)

Schedule of sensitivity of fair value of servicing assets

​

​	​	​	​	​	​	​
​	​	​	​	​	​	​
(dollars in thousands)	​	September 30, 2021			December 31, 2020
Fair value of residential mortgage servicing rights	​	$	10,296	​	$	4,647
​	​	​	​	​	​	​
Weighted average life (years)	​	​	9.0	​	​	5.0
​	​	​	​	​	​	​
Prepayment speed	​	​	7.26%	​	​	9.39%
Impact on fair value:	​	​	​	​	​	​
10% adverse change	​	$	(358)	​	$	(183)
20% adverse change	​	​	(695)	​	​	(354)
​	​	​	​	​	​	​
Discount rate	​	​	9.00%	​	​	9.00%
Impact on fair value:	​	​	​	​	​	​
10% adverse change	​	$	(397)	​	$	(168)
20% adverse change	​	​	(768)	​	​	(329)

SBA Loan Servicing Rights

Servicing Assets at Fair Value [Line Items]

Schedule of servicing assets

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended September 30,				​	Nine Months Ended September 30,
(dollars in thousands)	​	2021			2020	​	2021			2020
Balance at beginning of the period	​	$	1,385	​	632	​	$	970	​	337
Servicing rights capitalized	​	​	588	​	183	​	​	1,166	​	524
Amortization of servicing rights	​	​	(112)	​	(42)	​	​	(266)	​	(88)
Change in valuation allowance	​	​	(26)	​	14	​	​	(35)	​	14
Balance at end of the period	​	$	1,835	​	787	​	$	1,835	​	787

Schedule of valuation allowance for servicing assets

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended September 30,				​	Nine Months Ended September 30,
(dollars in thousands)	​	2021			2020	​	2021			2020
Valuation allowance, beginning of period	​	$	(48)	​	(26)	​	$	(39)	​	(26)
Impairment	​	​	(26)	​	—	​	​	(35)	​	—
Recovery	​	​	—	​	14	​	​	—	​	14
Valuation allowance, end of period	​	$	(74)	​	(12)	​	$	(74)	​	(12)

Schedule of sensitivity of fair value of servicing assets

​

​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​
(dollars in thousands)	​	September 30, 2021			December 31, 2020
Fair value of SBA loan servicing rights	​	$	1,954	​	$	1,010	​
​	​	​	​	​	​	​	​
Weighted average life (years)	​	​	3.8	​	​	3.7	​
​	​	​	​	​	​	​	​
Prepayment speed	​	​	12.91%	​	​	12.73%	​
Impact on fair value:	​	​	​	​	​	​	​
10% adverse change	​	$	(77)	​	$	(37)	​
20% adverse change	​	​	(148)	​	​	(71)	​
​	​	​	​	​	​	​	​
Discount rate	​	​	7.47%	​	​	8.33%	​
Impact on fair value:	​	​	​	​	​	​	​
10% adverse change	​	$	(53)	​	$	(25)	​
20% adverse change	​	​	(103)	​	​	(49)	​

X

- Definition

Tabular disclosure of a sensitivity analysis or stress test showing the hypothetical effect on the fair value of the transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) of two or more unfavorable variations from the expected levels for each key assumption that is reported, independently determined from any change in another key assumption, and a description of the objectives, methodology, and limitations of the sensitivity analysis or stress test.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719

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X

- Definition

Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 50
-Section 50
-Paragraph 3
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122625-111746

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X

- Definition

Tabular disclosure of the activity by class in any valuation allowance for impairment of recognized servicing assets - including beginning and ending balances, aggregate additions charged and recoveries credited to operations, and aggregate write-downs charged against allowance.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 50
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746

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X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

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