The following table presents the Company’s mortgage servicing rights activity for the years ended December 31, 2025, 2024 and 2023:


	December 31,
	2025			2024		2023
	(In thousands)
Balance at the beginning of year	$	13,712		$	8,578	$	9,238
Mortgage servicing rights acquired		—			4,759		—
Additions		249			—		—
Fair value adjustments		(998	)		375		(660	)
Balance at the end of year	$	12,963		$	13,712	$	8,578

The following table presents the Company’s mortgage servicing rights, unpaid principal balance of GNMA loans serviced for GNMA by Century and nonperforming loans serviced for BPC MC Trust, a related party (see Note 26 — Warrants and Related Party Transactions), and significant assumptions used in determining the fair value of servicing rights as of December 31, 2025, 2024 and 2023:


	Mortgage Servicing Rights		UPB Serviced		Weighted Average Discount Rate			Weighted Average Conditional Prepayment Rate
	($ in thousands)
December 31, 2025
GNMA loans	$	12,748	$	820,070		8.0	%		5.6	%
Nonperforming loans		215		128,047		15.0			36.5
Total	$	12,963	$	948,117		8.9			9.7
December 31, 2024
GNMA loans	$	13,712	$	807,916		8.0			5.1
December 31, 2023
GNMA loans	$	8,578	$	490,873		8.0			6.5