MORTGAGE SERVICING RIGHTS (Tables)

12 Months Ended

Dec. 31, 2011

MORTGAGE SERVICING RIGHTS [Abstract]

Data and Assumptions Used in Fair Value Calculation

Data and assumptions used in the fair value calculation related to MSRs for the years ended December 31, 2011, 2010 and 2009 were as follows:

	2011		2010		2009
	(Dollars in thousands)
Unpaid principal balance	$	4,293,552	$	3,870,872	$	3,413,202
Weighted-average prepayment speed (CPR)		22.7		15.6		15.9
Discount rate (annual percentage)		10.3		10.3		10.3
Weighted-average coupon interest rate (percentage)		4.9		5.2		5.6
Weighted-average remaining maturity (months)		311.0		315.0		321.0
Weighted-average servicing fee (basis points)		28.0		28.4		28.8

Activity in Class of Mortgage Servicing Assets

The Company has one class of mortgage servicing asset comprised of closed end loans for one-to-four family residences, secured by first liens.  The following table presents the activity in this class for the years indicated:

	2011			2010
	(In thousands)
Fair value at beginning of year	$	38,642		$	35,560
Additions:
Origination of servicing assets		11,692			13,898
Changes in fair value:
Due to payoffs/paydowns		(6,180	)		(6,781	)
Due to change in valuation inputs or assumptions used in the valuation model		(13,966	)		(4,029	)
Other changes in fair value		(14	)		(6	)
Fair value at end of year	$	30,174		$	38,642