XML 36 R25.htm IDEA: XBRL DOCUMENT v3.7.0.1
MORTGAGE OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2017
MORTGAGE OPERATIONS [Abstract]  
Key Assumptions Used in Measuring the Fair Value of Mortgage Servicing Rights
Key assumptions used in measuring the fair value of mortgage servicing rights as of June 30, 2017 and December 31, 2016 were as follows:

 
June 30, 2017
 
December 31, 2016
 
 
 
 
Constant prepayment rate
 
10.84%
 
 
12.67%
Discount rate
 
10.02%
 
 
10.02%
Weighted average life (years)
 
6.03
 
 
5.51
Schedule of Mortgage Servicing Rights Assets
The following table summarizes the Company's mortgage servicing rights assets as of June 30, 2017 and December 31, 2016.  Mortgage servicing rights are included in Interest Receivable and Other Assets on the condensed consolidated balance sheets:

 
(in thousands)
 
 
December 31, 2016
 
Additions
 
Reductions
 
June 30, 2017
 
 
        
Mortgage servicing rights
 
$
1,815
  
$
122
  
$
(168
)
 
$
1,769
 
Valuation allowance
  
(21
)
  
—
   
21
   
—
 
Mortgage servicing rights, net of valuation allowance
 
$
1,794
  
$
122
  
$
(147
)
 
$
1,769