Mortgage Servicing Rights (Tables)

3 Months Ended

Mar. 31, 2018

Transfers And Servicing Of Financial Assets [Abstract]

Schedule of Changes in Mortgage Servicing Rights

Changes in the Company’s mortgage servicing rights were as follows for the three months ended March 31, 2018 and 2017:

	Three Months Ended March 31,
		2018			2017
Carrying value prior to policy change	$	76,107		$	32,070
Fair value impact of change in accounting policy		—			1,011
Carrying value at beginning of period		76,107			33,081
Capitalization		13,510			15,013
Change in fair value:
Due to pay-offs/pay-downs		(3,060	)		(265	)
Due to change in valuation inputs or assumptions		6,603			(236	)
Carrying value at March 31	$	93,160		$	47,593

Schedule of Servicing Income and Expense Included in Mortgage Banking Income

The following table summarizes servicing income and expense included in mortgage banking income and other noninterest expense within the Mortgage Segment operating results, respectively, for the three months ended March 31, 2018 and 2017, respectively:

	Three Months Ended March 31,
		2018			2017
Servicing income:
Servicing income	$	4,793		$	2,748
Change in fair value of mortgage servicing rights		3,543			(501	)
Change in fair value of mortgage servicing rights hedging     instruments		(5,256	)		—
Gross servicing income		3,080			2,247
Gross direct servicing expenses		1,795			1,020
Net servicing income	$	1,285		$	1,227

Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights

Data and key economic assumptions related to the Company’s mortgage servicing rights as of March 31, 2018 and December 31, 2017 are as follows:

	March 31,			December 31,
		2018			2017
Unpaid principal balance	$	7,423,932		$	6,529,431
Weighted-average prepayment speed (CPR)		7.69	%		8.90	%
Estimated impact on fair value of a 10% increase		(2,997	)		(3,026	)
Estimated impact on fair value of a 20% increase		(5,780	)		(5,855	)
Discount rate		10.01	%		9.75	%
Estimated impact on fair value of a 100 bp increase		(3,829	)		(3,052	)
Estimated impact on fair value of a 200 bp increase		(7,379	)		(5,867	)
Weighted-average coupon interest rate		3.98	%		3.94	%
Weighted-average servicing fee (basis points)		28			28
Weighted-average remaining maturity (in months)		322			335