v3.25.2
Mortgage Servicing Rights (Tables)
6 Months Ended
Jun. 30, 2025
Transfers and Servicing [Abstract]  
Summary of Principal Balances of Loans

 

 

In Thousands

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Mortgage loan portfolios serviced for:

 

 

 

 

 

 

FHLMC

 

$

130,443

 

 

$

114,771

 

Summary of Servicing Asset at Amortized Cost

 

 

In Thousands

 

 

 

June 30, 2025

 

 

June 30, 2024

 

Balance at beginning of period

 

$

1,139

 

 

$

1,083

 

Servicing rights retained from loans sold

 

 

329

 

 

 

86

 

Amortization

 

 

(213

)

 

 

(121

)

Valuation Allowance Provision

 

 

 

 

 

 

Balance at end of period

 

$

1,255

 

 

$

1,048

 

Fair value, end of period

 

$

1,722

 

 

$

1,496

 

Schedule of Assumptions in Estimating the Fair Value of Mortgage Servicing Rights

 

 

June 30, 2025

 

 

December 31, 2024

 

Prepayment speed

 

 

9.47

%

 

 

8.08

%

Weighted-average life (in years)

 

 

7.72

 

 

 

8.42

 

Weighted-average note rate

 

 

5.38

%

 

 

5.11

%

Weighted-average discount rate

 

 

9.00

%

 

 

9.00

%