v3.26.1
Mortgage Servicing Rights
 6 Months Ended
Jun. 30, 2026
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights Mortgage Servicing Rights
(In Thousands)
There was no valuation adjustment on mortgage servicing rights (“MSRs”) during the three or six months ended June 30, 2026 or 2025.
Changes in the Company’s MSRs were as follows:
20262025
Balance at January 1$65,271 $72,991 
Sale of MSRs— (7,886)
Additions4,878 4,021 
Amortization(4,333)(4,587)
Balance at June 30
$65,816 $64,539 
Data and key economic assumptions related to the Company’s MSRs are as follows as of the dates presented:
June 30, 2026December 31, 2025
Unpaid principal balance$5,659,879 $5,648,033 
Weighted-average prepayment speed (CPR)9.43 %10.90 %
Estimated impact of a 10% increase$(2,954)$(2,953)
Estimated impact of a 20% increase(5,715)(5,719)
Discount rate9.87 %9.85 %
Estimated impact of a 10% increase$(3,675)$(3,199)
Estimated impact of a 20% increase(7,067)(6,195)
Weighted-average coupon interest rate4.66 %4.59 %
Weighted-average servicing fee (basis points)33.74 33.86 
Weighted-average remaining maturity (in years)7.46.8
The movement of mortgage interest rates has an inverse relationship with prepayment speeds and discount rates.
The Company recorded servicing fees of $3,071 and $3,001 for the three months ended June 30, 2026 and 2025, respectively, and $6,360 and $6,656 for the six months ended June 30, 2026 and 2025, respectively, all of which are included in “Mortgage banking income” in the Consolidated Statements of Income.