Disclosures about Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2017

Disclosures about Fair Value of Assets and Liabilities

Schedule of fair value measurement of assets measured at fair value on recurring basis

	Fair Value Measurements Using
			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
	Fair		Assets		Inputs		Inputs
Assets	Value		(Level 1)		(Level 2)		(Level 3)
September 30, 2017	(In thousands)
Trading securities	$	121,360	$	—	$	121,360	$	—
Available-for-sale securities:
Treasury notes		997		997		—		—
Federal agencies		403,517		—		403,517		—
Mortgage-backed - Government-sponsored entity (GSE) - residential		26,067		—		26,067		—
Mortgage servicing rights		62,022		—		—		62,022
December 31, 2016
Trading securities	$	137,675	$	—	$	137,675	$	—
Available-for-sale securities:
Treasury notes		999		999		—		—
Federal agencies		288,993		—		288,993		—
Municipals		9,500		—		9,500		—
Mortgage-backed - Government-sponsored entity (GSE) - residential		26,382		—		26,382		—
Mortgage servicing rights		53,670		—		—		53,670

Schedule of Level 3 reconciliation of recurring fair value measurements

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Mortgage servicing rights	(In thousands)
Balance, beginning of period	$	57,557	$	55,422	$	53,670	$	55,553
Additions
Purchased servicing		76		933		1,209		1,252
Originated servicing		2,939		2,379		7,775		3,349
Acquisition of Richmac		3,970		—		3,970		—
Subtractions
Paydowns		(1,083)		(1,798)		(3,813)		(3,218)
Changes in fair value due to changes in valuation inputs or assumptions used in the valuation model		(1,437)		—		(789)		—
Balance, end of period	$	62,022	$	56,936	$	62,022	$	56,936

Schedule of fair value measurement of assets and liabilities measured at fair value on nonrecurring basis

	Fair Value Measurements Using
			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
	Fair		Assets		Inputs		Inputs
Assets	Value		(Level 1)		(Level 2)		(Level 3)
	(In thousands)
December 31, 2016
Impaired loans (collateral dependent)	$	225	$	—	$	—	$	225

Schedule of quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill

			Valuation
	Fair Value		Technique	Unobservable Inputs	Range
	(In thousands)
At September 30, 2017:
Mortgage servicing rights	$	62,022	Discounted cash flow	Discount rate	8.0% - 15.0%
				Constant prepayment rate	1.1% - 35.8%
At December 31, 2016:
Collateral-dependent impaired loans	$	225	Market comparable properties	Marketability discount	40%
Mortgage servicing rights		53,670	Discounted cash flow	Discount rate	8.0% - 15.0%
				Constant prepayment rate	0% - 25%

Schedule of carrying amount and estimated fair value of financial instruments

			Fair Value Measurements Using
					Quoted Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
Assets	Value		Value		(Level 1)		(Level 2)		(Level 3)
September 30, 2017			(In thousands)
Financial assets:
Cash and cash equivalents	$	566,810	$	566,810	$	566,810	$	—	$	—
Securities purchased under agreements to resell		7,080		7,080		—		7,080		—
FHLB stock		7,539		7,539		—		7,539		—
Loans held for sale		798,058		798,058		—		798,058		—
Loans, net		1,201,695		1,204,002		—		—		1,204,002
Interest receivable		7,196		7,196		—		7,196		—
Financial liabilities:
Deposits		2,901,464		2,901,331		2,511,551		389,780		—
Line of credit		25,000		25,000		—		25,000		—
Short-term subordinated debt		30,000		30,000		—		30,000		—
FHLB advances		1,624		1,645		—		1,645		—
Interest payable		2,364		2,364		—		2,364		—
December 31, 2016
Financial assets:
Cash and cash equivalents	$	445,701	$	445,701	$	445,701	$	—	$	—
Securities purchased under agreements to resell		5,392		5,392		—		5,392		—
FHLB stock		7,539		7,539		—		7,539		—
Loans held for sale		764,503		764,503		—		764,503		—
Loans, net		935,546		935,287		—		—		935,287
Interest receivable		5,368		5,368		—		5,368		—
Financial liabilities:
Deposits		2,428,621		2,428,478		2,262,378		166,100		—
Line of credit		25,000		25,000		—		25,000		—
Short-term subordinated debt		30,000		30,000		—		30,000		—
FHLB advances		2,006		2,031		—		2,031		—
Interest payable		1,791		1,791		—		1,791		—