Quarterly report pursuant to Section 13 or 15(d)

Servicing Assets (Tables)

v3.23.2
Servicing Assets (Tables)
6 Months Ended
Jun. 30, 2023
Transfers and Servicing [Abstract]  
Summary of Changes in Servicing Assets

The changes in servicing assets for the three and six months ended June 30, 2023 and 2022 were as follows:

 

 

 

Three Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

7,542

 

 

$

7,202

 

Addition related to sale of SBA loans

 

 

399

 

 

 

882

 

Amortization

 

 

(589

)

 

 

(731

)

Balance at end of period

 

$

7,352

 

 

$

7,353

 

 

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

7,176

 

 

$

7,080

 

Addition related to sale of SBA loans

 

 

1,014

 

 

 

1,549

 

Amortization

 

 

(1,223

)

 

 

(1,276

)

Change in valuation allowance

 

 

385

 

 

 

 

Balance at end of period

 

$

7,352

 

 

$

7,353