MORTGAGE BANKING ACTIVITIES (Tables) |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Mortgage Banking Activities [Abstract] | |
| Mortgage Banking Revenue |
Three Months Ended March 31,
(Dollars in Thousands)
2025
2024
Net realized gains on sales of mortgage loans
$
2,880
$
1,676
Net change in unrealized gain on mortgage loans held for sale
234
93
Net change in the fair value of IRLC's
495
204
Net change in the fair value of forward sales contracts
(175)
132
Pair-Offs on net settlement of forward sales contracts
(186)
58
Mortgage servicing rights additions
20
150
Net origination fees
552
565
Total mortgage banking
$
3,820
$
2,878
|
| Summary of Mortgage Servicing Rights |
(Dollars in Thousands)
March 31, 2025
December 31, 2024
Number of residential mortgage loans serviced for others
510
504
Outstanding principal balance of residential mortgage loans serviced
$
133,497
$
135,416
Weighted average
5.89%
5.86%
Remaining contractual term (in months)
349
348
|
| Capitalized Mortgage Servicing Rights |
Three Months Ended
March 31,
(Dollars in Thousands)
2025
2024
Beginning balance
$
933
$
831
Additions due to loans sold with servicing retained
20
150
Deletions and amortization
(45)
(62)
Ending balance
$
908
$
919
|
| Key Unobservable Inputs Used in Determining the Fair Value of Mortgage Servicing Rights |
March 31, 2025
December 31, 2024
Minimum
Maximum
Minimum
Maximum
Discount rates
9.50%
12.00%
9.50%
12.00%
Annual prepayment speeds
9.69%
19.32%
9.14%
18.88%
Cost of servicing (per loan)
$
85
$
95
$
85
$
95
|
| Warehouse Line Borrowings |
Amounts
(Dollars in Thousands)
Outstanding
$
25
2.00%
3.00%
, with a floor rate of
3.25%
4.25%
.
0.1
$
13,582
$
25
May 2025
.
2.75%
3.25%
.
753
Total Warehouse
$
14,335
|