Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2015

Transfers and Servicing [Abstract]

Servicing Asset at Fair Value

The following table outlines the key assumptions used in measuring the fair value of mortgage servicing rights as of December 31, 2015 and 2014:

	2015		2014
Constant prepayment rate	10.54	%	11.59	%
Discount rate	9.10	%	9.29	%

The following table details the activity in the Company's mortgage servicing rights ("MSR") for the year indicated:

(In thousands)	2015			2014
Balance, beginning of period		$1,010			$—
Acquired from Alaska Pacific Bank	—			1,170
Additions for new MSR capitalized	802			—
Changes in fair value:
Due to changes in model inputs of assumptions (1)	29			—
Other (2)	(187		)	(160		)
Carrying value, December 31		$1,654			$1,010

⁽¹⁾ Principally reflects changes in discount rates and prepayment speed assumptions, which are primarily affected by changes in interest rates.

⁽²⁾ Represents changes due to collection/realization of expected cash flows over time.

The following table details information related to our serviced mortgage loan portfolio as of December 31, 2015 and 2014:

(In thousands)	December 31, 2015			December 31, 2014
Balance of loans serviced for others		$125,446			$96,390
MSR as a percentage of serviced loans	1.32		%	1.05		%