Quarterly report pursuant to Section 13 or 15(d)

Servicing Assets (Tables)

v3.24.2.u1
Servicing Assets (Tables)
6 Months Ended
Jun. 30, 2024
Transfers and Servicing [Abstract]  
Summary of Activity in Servicing Assets

The activity in servicing assets was as follows for the periods indicated:

 

 

 

Three Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

6,890

 

 

$

7,542

 

Addition related to sale of SBA loans

 

 

482

 

 

 

399

 

Addition related to sale of residential loans

 

 

136

 

 

 

 

Amortization

 

 

(672

)

 

 

(589

)

Change in valuation allowance

 

 

 

 

 

 

Balance at end of period

 

$

6,836

 

 

$

7,352

 

 

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

7,070

 

 

$

7,176

 

Addition related to sale of SBA loans

 

 

996

 

 

 

1,014

 

Addition related to sale of residential loans

 

 

136

 

 

 

 

Amortization

 

 

(1,366

)

 

 

(1,223

)

Change in valuation allowance

 

 

 

 

 

385

 

Balance at end of period

 

$

6,836

 

 

$

7,352