v3.25.2
MORTGAGE BANKING ACTIVITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Mortgage Banking Activities [Abstract]  
Mortgage Banking Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
Six Months Ended June 30,
(Dollars in Thousands)
2025
2024
2025
2024
Net realized gains on sales of mortgage loans
$
3,605
$
3,159
$
6,485
$
4,835
Net change in unrealized
 
(loss) gain on mortgage loans held
for sale
(62)
76
171
169
Net change in the fair value of IRLC's
(91)
(37)
405
167
Net change in the fair value of forward sales contracts
(109)
132
(285)
264
Pair-Offs on net settlement of forward sales contracts
16
152
(169)
210
Mortgage servicing rights additions
24
92
44
242
Net origination fees
807
807
1,359
1,372
Total mortgage banking
 
revenues
$
4,190
$
4,381
$
8,010
$
7,259
Summary of Mortgage Servicing Rights
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in Thousands)
June 30, 2025
December 31, 2024
Number of residential mortgage loans serviced for others
465
504
Outstanding principal balance of residential mortgage loans serviced
 
for others
$
123,895
$
135,416
Weighted average
 
interest rate
5.71%
5.86%
Remaining contractual term (in months)
353
348
Capitalized Mortgage Servicing Rights
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
Six Months Ended June 30,
(Dollars in Thousands)
2025
2024
2025
2024
Beginning balance
$
908
$
919
$
933
$
831
Additions due to loans sold with servicing retained
24
92
44
242
Deletions and amortization
(43)
(46)
(88)
(108)
Ending balance
$
889
$
965
$
889
$
965
Key Unobservable Inputs Used in Determining the Fair Value of Mortgage Servicing Rights
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2025
December 31, 2024
Minimum
Maximum
Minimum
Maximum
Discount rates
9.50%
12.00%
9.50%
12.00%
Annual prepayment speeds
9.59%
18.60%
9.14%
18.88%
Cost of servicing (per loan)
$
85
$
95
$
85
$
95
Warehouse Line Borrowings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts
(Dollars in Thousands)
Outstanding
$
20
 
million master repurchase agreement without defined expiration.
 
Interest is at the SOFR rate plus
2.25%
 
to
3.25%
, with a floor rate of
3.25%
 
to
4.25%
.
 
A cash pledge deposit of $
0.1
 
million is required by the lender.
$
12,446
$
25
 
million warehouse line of credit agreement expiring in
June 2026
.
 
Interest is at the SOFR plus
2.50%
 
to
3.00%
.
279
Total Warehouse
 
Borrowings
$
12,725