Mortgage Loan Participation and Sale Agreements (Tables)

12 Months Ended

Dec. 31, 2016

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Summary of Mortgage Loan Participation and Sale Agreements

Mortgage loan participation and sale agreements are summarized below:

	Year ended December 31,
	2016			2015			2014
	(dollars in thousands)
Weighted-average interest rate (1)		1.74	%		1.62	%		1.42	%
Average balance	$	70,391		$	49,318		$	44,770
Total interest expense	$	1,376		$	1,001		$	912
Maximum daily amount outstanding	$	99,469		$	148,032		$	116,363

(1) Excludes the effect of amortization of debt issuance costs of $130,000 for the year ended December 31, 2016, and $193,000 for the year ended December 31, 2015.

	December 31,
	2016			2015
	(dollars in thousands)
Carrying value:
Amount outstanding	$	25,917		$	—
Unamortized debt issuance costs		—			—
	$	25,917		$	—
Weighted-average interest rate		2.02	%		—
Mortgage loans acquired for sale pledged to secure    mortgage loan participation and sale agreements	$	26,738		$	—