Annual report pursuant to Section 13 and 15(d)

Servicing Assets (Tables)

v3.24.0.1
Servicing Assets (Tables)
12 Months Ended
Dec. 31, 2023
Transfers and Servicing [Abstract]  
Summary of Changes in Servicing Assets

The changes in servicing assets for the years ended December 31, 2023 and 2022 were as follows:

 

 

 

As of December 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Balance at beginning of period

 

$

7,176

 

 

$

7,080

 

Additions related to sale of SBA loans

 

 

1,965

 

 

 

3,153

 

Amortization

 

 

(2,456

)

 

 

(2,672

)

Change in valuation allowance

 

 

385

 

 

 

(385

)

Balance at end of period

 

$

7,070

 

 

$

7,176