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LOAN SERVICING LOAN SERVICING (Tables)
 3 Months Ended
Mar. 31, 2016
Transfers and Servicing [Abstract]  
Schedule of servicing asset
The following table summarizes MSR activity for the periods presented.
 
Three months ended March 31,
 
2016
 
2015
 
 
 
 
Balance at beginning of period before valuation allowance
$
5,027

 
$
4,284

Additions
367

 
395

Repayments
(84
)
 
(129
)
Amortization
(200
)
 
(182
)
Balance at end of period before valuation allowance
5,110

 
4,368

Valuation allowance at end of period
(53
)
 
(255
)
Balance at end of period after valuation allowance
$
5,057

 
$
4,113

 
 
 
 
The table below summarizes the activity in the SBA-guaranteed loan servicing asset for the periods presented.
 
Three months ended March 31,
 
2016
 
2015
 
 
 
 
Balance at beginning of period
$
4,485

 
$
3,081

Fair value of SBA servicing assets acquired in NewBridge Merger
16

 
—

Additions
597

 
535

Amortization
(397
)
 
(96
)
Balance at end of period
$
4,701

 
$
3,520

 
 
 
 
The characteristics and sensitivity of the fair value of MSRs to changes in key assumptions is included in the accompanying table.
 
 
March 31, 2016
 
December 31, 2015
 
 
 
 
 
Composition of mortgage loans serviced for others:
 
 
 
 
Fixed rate loans
 
99.90
%
 
99.90
%
Adjustable rate loans
 
0.10
%
 
0.10
%
Total
 
100.00
%
 
100.00
%
 
 
 
 
 
Weighted average life (years)
 
6.07

 
6.60

Prepayment speed
 
11.3
%
 
9.98
%
Discount rate
 
9.46
%
 
9.66
%
Effect on fair value due to change in interest rates:
 
 
 
 
+ 0.25%
 
$
492

 
$
421

+ 0.50%
 
864

 
660

- 0.25%
 
(536
)
 
(599
)
- 0.50%
 
(955
)
 
(1,104
)