Quarterly report [Sections 13 or 15(d)]

MORTGAGE BANKING ACTIVITIES (Tables)

v3.26.3
MORTGAGE BANKING ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2026
Mortgage Banking Activities [Abstract]  
Mortgage Banking Revenue
Three Months Ended
September 30,
Nine Months Ended
September 30,
(Dollars in Thousands)
2026
2025
2026
2025
Net realized gains
on sales of mortgage
loans
$
2,991
$
3,871
$
9,470
$
10,356
Net change
in unrealized (loss) gain on
mortgage loans
held for
sale
(595)
130
(266)
302
Net change
in the fair value
of IRLCs
(152)
(45)
10
359
Net change
in the fair value
of forward sales
contracts
452
199
482
(85)
Pair-Offs on
net settlement
of forward sales
contracts
84
(234)
276
(404)
Mortgage servicing rights
additions
29
40
125
84
Net origination fees
864
833
2,488
2,192
Total mortgage
banking revenues
$
3,673
$
4,794
$
12,585
$
12,804
Summary of Mortgage Servicing Rights
(Dollars in Thousands)
September 30, 2026
December 31, 2025
Number of residential
mortgage loans
serviced for others
456
456
Outstanding principal
balance
of residential mortgage
loans serviced for others
$
119,277
$
118,429
Weighted average
interest rate
5.78%
5.69%
Remaining contractual
term (in months)
353
354
Capitalized Mortgage Servicing Rights
Three Months Ended
September 30,
Nine Months Ended
September 30,
(Dollars in Thousands)
2026
2025
2026
2025
Beginning balance
$
927
$
889
$
924
$
933
Additions due to
loans sold with servicing
retained
28
40
124
84
Deletions and
amortization
(47)
(44)
(140)
(132)
Ending balance
$
908
$
885
$
908
$
885
Key Unobservable Inputs Used in Determining the Fair Value of Mortgage Servicing Rights
September 30, 2026
December 31, 2025
Minimum
Maximum
Minimum
Maximum
Discount rates
9.50%
12.00%
9.50%
12.00%
Annual prepayment
speeds
8.78%
17.99%
8.50%
18.73%
Cost of servicing (per
loan)
$
85
$
95
$
85
$
95
Warehouse Line Borrowings
Amounts
(Dollars in Thousands)
Outstanding
$
30
million master repurchase
agreement without
defined expiration.
Interest is at the
secured overnight
financing rate
(SOFR) rate plus
2.25%
to
3.25%
, with a floor rate of
3.25%
to
4.25%
.
A cash pledge deposit of
$
0.1
million is required
by the lender.
$
13,528
$
25
million warehouse line of
credit agreement
expiring in
September 2027
.
Interest is at the
SOFR rate plus
2.50%
to
6.00%
, with a floor rate
of
3.00%
to
6.50%
.
18,166
Total Warehouse
Borrowings
$
31,694