XML 160 R42.htm IDEA: XBRL DOCUMENT v2.4.0.8
Mortgage Servicing Rights and Mortgage Servicing Activity (Tables)
 6 Months Ended
Jun. 30, 2013
Transfers and Servicing [Abstract]  
Changes in the carrying amount of mortgage servicing rights
Changes in the carrying amount of mortgage servicing rights and mortgage servicing rights valuation allowance are as follows:
 
Three Months Ended
Six months ended
 
June 30, 2013
 
June 30, 2012
June 30, 2013
 
June 30, 2012
Balance at beginning of period
$
21,378

 
$
20,946

$
21,316

 
$
21,179

Addition of Citizens Mortgage Servicing Rights on Acquisition Date
1,065

 
—

1,065

 
—

Additions
1,434

 
1,794

2,701

 
3,188

Amortization
(1,273
)
 
(1,467
)
(2,478
)
 
(3,094
)
Balance at end of period
22,604

 
21,273

22,604

 
21,273

Valuation allowance at beginning of period
(1,234
)
 
(2,193
)
(2,564
)
 
(3,539
)
Recoveries (Additions)
752

 
(1,295
)
2,082

 
51

Valuation Allowance at end of period
(482
)
 
(3,488
)
(482
)
 
(3,488
)
Mortgage servicing rights, net carrying balance
$
22,122

 
$
17,785

$
22,122

 
$
17,785

Fair value at end of period
$
22,529

 
$
17,913

$
22,529

 
$
17,913
Changes in Key economics assumptions
Prepayment speed assumption (annual CPR)
8.97
%
    Decrease in fair value from 10% adverse change
$
680

    Decrease in fair value from 25% adverse change
$
1,635

Discount rate assumption
9.63
%
    Decrease in fair value from 100 basis point adverse change
$
685

    Decrease in fair value from 200 basis point adverse change
$
1,325

Expected weighted-average life (in months)
104.7