Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2026

Activity related to MSRs for the six months ended June 30, 2026 and the year ended December 31, 2025 was as follows (in thousands):


	Six Months Ended June 30, 2026
Beginning balance, as of January 1, 2026	$	212,216
Additions	13,602
Amortization	(19,863)
Impairment reversal	2,601
Prepayments and write-offs	(3,007)
Ending balance, as of June 30, 2026	$	205,549


	Year Ended December 31, 2025
Beginning balance, as of January 1, 2025	$	—
Acquired MSRs at July 1, 2025	211,545
Additions	26,295
Amortization	(19,434)
Impairment	(2,590)
Prepayments and write-offs	(3,600)
Ending balance, as of December 31, 2025	$	212,216

Schedule of Expected Amortization of MSRs

The expected amortization of capitalized MSRs recorded at June 30, 2026 is as follows (in thousands):


Year	Amortization
2026 (July-December)	$	17,857
2027	32,611
2028	26,945
2029	22,263
2030	18,395
Thereafter	87,478
Total	$	205,549

The following table summarizes the Company's expected other identified intangible assets, net amortization over the next five years (dollars in thousands):


	Weighted Avg. Life (in Years)	2026 (July - December)		2027		2028		2029		2030
Software development	4.3	478		956		956		956		506
Intangible lease assets	12.3	1,440		2,880		2,880		2,880		2,880
Total		$	1,918	$	3,836	$	3,836	$	3,836	$	3,386