Mortgage Banking (Tables)

6 Months Ended

Jun. 30, 2013

Summary of Unpaid Principal Balance of Mortgage Loans Held-for-Sale for Which Fair Value Option Elected by Type

A summary of the unpaid principal balances of mortgage loans held-for-sale (“LHFS”) for which the fair value option has been elected, by type, is presented below:


(Dollars in thousands)	At June 30, 2013		At December 31, 2012
Government	$	5,798	$	16,902
Conventional		3,040		10,805
Jumbo		1,757		20,514
Fair value adjustment		77		2,269

Total mortgage loans held-for-sale at fair value	$	10,672	$	50,490

Gain on Loan Held for Sale

Gains on LHFS for the six months ended June 30, 2013 and 2012 are as follows:


	Three Months Ended						Six Months Ended
(Dollars in thousands)	June 30, 2013			June 30, 2012			June 30, 2013			June 30, 2012
Gain on sale of mortgage loans	$	1,424		$	9,290		$	5,333		$	13,995
Net loan servicing		296			(13	)		494			(17	)
Unrealized gains (losses) from derivative financial statements		584			461			393			1,513
Realized gains (losses) derivative financial instruments		367			(255	)		519			(291	)
Mark-to-market (loss) gain on LHFS		(610	)		4,726			(2,192	)		6,418
Direct origination (expenses) fees, net		(964	)		(5,948	)		(1,943	)		(8,830	)
Provision for repurchases		(32	)		(411	)		(83	)		(438	)

Total gain on LHFS	$	1,065		$	7,850		$	2,521		$	12,350

The following table sets forth information, at June 30, 2013 and December 31, 2012, with respect to such reserves:


(Dollars in thousands)	At June 30, 2013		At December 31, 2012
Beginning balance	$	906	$	115
Provision for repurchases		83		791
Settlements		—		—

Total repurchases reserve	$	989	$	906

Loans Held For Sale Unpaid Principal Balance

The following table sets forth the principal amounts of the mortgage loans we were servicing, categorized by type of loan, at June 30, 2013 and December 31, 2012, we were servicing approximately $488 million, and $456 million, respectively, in principal amount of mortgage loans with the following characteristics:


	Unpaid Principal Balance
(Dollars in thousands)	At June 30, 2013		At December 31, 2012
Government	$	401,509	$	396,951
Conventional		86,401		58,867

Total loans serviced	$	487,910	$	455,818