Quarterly report pursuant to Section 13 or 15(d)

Servicing Assets (Tables)

v3.24.1.u1
Servicing Assets (Tables)
3 Months Ended
Mar. 31, 2024
Transfers and Servicing [Abstract]  
Summary of Changes in Servicing Assets

The changes in servicing assets for the three months ended March 31, 2024 and 2023 were as follows:

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

7,070

 

 

$

7,176

 

Addition related to sale of SBA loans

 

 

514

 

 

 

615

 

Amortization

 

 

(694

)

 

 

(635

)

Change in valuation allowance

 

 

 

 

 

385

 

Balance at end of period

 

$

6,890

 

 

$

7,541