Mortgage Servicing Rights (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Transfers and Servicing of Financial Assets [Abstract] |
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| Schedule of Changes in Mortgage Servicing Rights |
Changes in the Company’s mortgage servicing rights were as follows for the three and nine months ended September 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2026 | 2025 | | 2026 | | | 2025 | | | | | | | | | | | | | | | | | | | | | | Carrying value at beginning of period | | $ | 145,374 | | $ | 153,464 | | | $ | 148,795 | | | $ | 162,038 | | | | Capitalization | | 679 | | 849 | | | 3,232 | | | 2,498 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change in fair value: | | | | | | | | | Due to payoffs/paydowns | | (2,848) | | (3,438) | | | (9,510) | | | (9,703) | | | | Due to change in valuation inputs or assumptions | | 7,668 | | (1,035) | | | 8,356 | | | (4,993) | | | | Carrying value at end of period | | $ | 150,873 | | $ | 149,840 | | | $ | 150,873 | | | $ | 149,840 | | |
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| Schedule of Servicing Income and Expense Included in Mortgage Banking Income |
The following table summarizes servicing income and expense, which are included in mortgage banking income and other noninterest expense, respectively, in the consolidated statements of income for the three and nine months ended September 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2026 | 2025 | | 2026 | | | 2025 | | | | Servicing income: | | | | | | | | | | Servicing income | | $ | 6,452 | | $ | 6,836 | | | $ | 19,526 | | | $ | 20,849 | | | | Change in fair value of mortgage servicing rights | | 4,820 | | (4,473) | | | (1,154) | | | (14,696) | | | | Change in fair value of derivative hedging instruments | | (8,298) | | 1,083 | | | (9,889) | | | 4,006 | | | Total servicing income | | 2,974 | | 3,446 | | | 8,483 | | | 10,159 | | | | Servicing expenses | | 2,225 | | 1,409 | | | 5,563 | | | 4,974 | | | Net servicing income | | $ | 749 | | $ | 2,037 | | | $ | 2,920 | | | $ | 5,185 | | |
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| Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights |
Data and key economic assumptions, as well as the valuation's sensitivity to interest rate fluctuations, related to the Company’s mortgage servicing rights as of September 30, 2026 and December 31, 2025 are as follows: | | | | | | | | | | | | | | | | | September 30, | | December 31, | | | | | | 2026 | | 2025 | | Unpaid principal balance of mortgage loans sold and serviced for others | | $ | 9,106,646 | | | $ | 9,588,948 | | | Weighted-average prepayment speed (CPR) | | 5.37 | % | | 6.38 | % | | Estimated impact on fair value of a 10% increase | | $ | (3,506) | | | $ | (4,026) | | | Estimated impact on fair value of a 20% increase | | $ | (6,824) | | | $ | (7,812) | | | | | | | | | | | | | Discount rate | | 11.2 | % | | 9.68 | % | | Estimated impact on fair value of a 100 bp increase | | $ | (6,895) | | | $ | (6,986) | | | Estimated impact on fair value of a 200 bp increase | | $ | (13,222) | | | $ | (13,390) | | | | | | | | | | | | | Weighted-average coupon interest rate | | 3.71 | % | | 3.67 | % | | Weighted-average servicing fee (basis points) | | 27 | | 27 | | Weighted-average remaining maturity (in months) | | 339 | | 338 |
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