v3.25.2
Mortgage Banking Activities (Tables)
 6 Months Ended
Jun. 30, 2025
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 June 30, 2025December 31, 2024
 Unpaid Principal Balance/
Notional		Fair ValueUnpaid Principal Balance/
Notional		Fair Value
Residential mortgage loans held for sale$99,522 $99,820 $77,080 $75,969 
Residential mortgage loan commitments64,508 2,417 36,590 1,119 
Forward sales contracts100,500 (800)82,000 473 
  $101,437  $77,561 
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
Production revenue:  
Net realized gains on sale of mortgage loans$1,446 $2,338 $2,902 $4,364 
Net change in unrealized gain (loss) on mortgage loans held for sale
415 631 1,409 249 
Net change in the fair value of mortgage loan commitments269 (528)1,298 566 
Net change in the fair value of forward sales contracts(423)(72)(1,273)715 
Total mortgage production revenue
1,707 2,369 4,336 5,894 
Servicing revenue17,286 16,259 34,472 31,701 
Total mortgage banking revenue$18,993 $18,628 $38,808 $37,595 
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 June 30, 2025December 31, 2024
Number of residential mortgage loans serviced for others126,767 125,728 
Outstanding principal balance of residential mortgage loans serviced for others$22,542,310 $22,269,513 
Weighted average interest rate3.79 %3.73 %
Remaining term (in months)274276
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Beginning Balance$342,111 $319,330 $338,145 $293,884 
Additions3,063 4,454 5,572 6,970 
Acquisitions— 14,021 14,615 31,421 
Change in fair value due to principal payments(5,511)(8,012)(11,429)(13,459)
Change in fair value due to market assumption changes(5,019)3,453 (12,259)14,430 
Ending Balance$334,644 $333,246 $334,644 $333,246 
Assumptions to Value Mortgage Servicing Rights [Table Text Block]
Mortgage servicing rights are not traded in active markets. Fair value is determined by discounting the projected net cash flows. Significant market assumptions used to determine fair value based on significant unobservable inputs were as follows:
 June 30, 2025December 31, 2024
Discount rate – risk-free rate plus a market premium9.24%9.60%
Prepayment rate – based upon loan interest rate, original term, and loan type
7.02%7.09%
Loan servicing costs – annually per loan based upon loan type:
Performing loans
$73 - $94
$73 - $94
Delinquent loans
$150 - $500
$150 - $500
Loans in foreclosure
$875 - $6,000
$875 - $6,000
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
3.63%4.44%
Primary/secondary mortgage rate spread
128 bps115 bps
Delinquency rate
2.24%2.19%