Disclosures about Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

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)
	(In thousands)
December 31, 2019
Trading securities	$	269,891	$	—	$	269,891	$	—
Available-for-sale securities:
Treasury notes		4,765		4,765		—		—
Federal agencies		244,973		—		244,973		—
Municipals		5,937		—		5,937		—
Mortgage-backed - Government-sponsored entity (GSE) - residential		34,568		—		34,568		—
Loans held for sale		19,592		—		19,592		—
Mortgage servicing rights		74,387		—		—		74,387
Derivative assets - interest rate lock commitments		186		—		—		186
Derivative asset - interest rate swap		511		—		511		—
Derivative liabilities - forward contracts		27		—		27		—
Derivative liabilities - interest rate swap		511		—		511		—
December 31, 2018
Trading securities	$	163,419	$	—	$	163,419	$	—
Available-for-sale securities:
Treasury notes		11,941		11,941		—		—
Federal agencies		236,930		—		236,930		—
Municipals		21,332		—		21,332		—
Mortgage-backed - Government-sponsored entity (GSE) - residential		60,868				60,868		—
Loans held for sale		11,886		—		11,886		—
Mortgage servicing rights		77,844		—		—		77,844
Derivative assets - interest rate lock commitments		70		—		—		70
Derivative liabilities - forward contracts		9		—		9		—

Schedule of Level 3 reconciliation of recurring fair value measurements

	Year Ended December 31,
	2019		2018		2017
	(In thousands)
Mortgage servicing rights
Balance, beginning of period	$	77,844	$	66,079	$	53,670
Additions
Originated and purchased servicing		7,332		14,113		10,993
Acquisition of MCS		—		—		3,970
Subtractions
Paydowns		(5,994)		(4,196)		(5,504)
Changes in fair value due to changes in valuation inputs or assumptions used in the valuation model		(4,795)		1,848		2,950
Balance, end of period	$	74,387	$	77,844	$	66,079
Available-for-sale securities - Municipals
Balance, beginning of period	$	—	$	6,688	$	—
Additions
Purchased securities		—		—		6,688
Subtractions
Paydowns		—		(257)		—
Sales		—		(6,431)		—
Unrealized gains (losses) included in other comprehensive income		—		—		—
Balance, end of period	$	—	$	—	$	6,688
Derivative Assets - interest rate lock commitments
Balance, beginning of period	$	70	$	—	$	—
Purchases		—		—		—
Changes in fair value		116		70		—
Balance, end of period	$	186	$	70	$	—

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, 2019
Impaired loans (collateral-dependent)	$	1,570	$	—	$	—	$	1,570
December 31, 2018
Impaired loans (collateral-dependent)	$	2,639	$	—	$	—	$	2,639

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 December 31, 2019:
Collateral-dependent impaired loans	$	1,570	Market comparable properties	Marketability discount	37%-55%
Mortgage servicing rights	$	74,387	Discounted cash flow	Discount rate	8% - 13%
				Constant prepayment rate	1% - 39%
Derivative assets - interest rate lock commitments	$	186	Discounted cash flow	Loan closing rates	73-99%
At December 31, 2018:
Collateral-dependent impaired loans	$	2,639	Market comparable properties	Marketability discount	5% - 47%
Mortgage servicing rights	$	77,844	Discounted cash flow	Discount rate	8% - 13%
				Constant prepayment rate	1% - 36%
Derivative assets - interest rate lock commitments	$	70	Discounted cash flow	loan closing rates	95-100%

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)
	(In thousands)
December 31, 2019
Financial assets:
Cash and cash equivalents	$	506,709	$	506,709	$	506,709	$	—	$	—
Securities purchased under agreements to resell		6,723		6,723		—		6,723		—
FHLB stock		20,369		20,369		—		20,369		—
Loans held for sale		2,074,197		2,074,197		—		2,074,197		—
Loans, net		3,012,468		2,999,580		—		—		2,999,580
Interest receivable		18,359		18,359		—		18,359		—
Financial liabilities:
Deposits		5,478,075		5,478,682		3,303,736		2,174,946		—
Lines of credit		6,540		6,540		—		6,540		—
Short-term subordinated debt		12,200		12,200		—		12,200		—
FHLB advances		162,699		162,803		—		162,803		—
Interest payable		11,938		11,938		—		11,938		—
December 31, 2018
Financial assets:
Cash and cash equivalents	$	336,524	$	336,524	$	336,524	$	—	$	—
Securities purchased under agreements to resell		6,875		6,875		—		6,875		—
FHLB stock		7,974		7,974		—		7,974		—
Loans held for sale		820,569		820,569		—		820,569		—
Loans, net		2,045,423		2,041,772		—		—		2,041,772
Interest receivable		13,827		13,827		—		13,827		—
Financial liabilities:
Deposits		3,231,086		3,230,397		2,550,632		679,765		—
Lines of credit		33,150		33,150		—		33,150		—
Short-term subordinated debt		10,582		10,582		—		10,582		—
FHLB advances		151,721		151,723		—		151,723		—
Interest payable		4,132		4,132		—		4,132		—