Note 7 - Residential Mortgage-Banking Activities

6 Months Ended

Jun. 30, 2013

Mortgage Banking Activities [Text Block]

Mortgage Banking Activities [Text Block]

7.  Residential Mortgage-Banking Activities 

Residential mortgage loans serviced for the benefit of others amounted to $384.8 million and $388.7 million at June 30, 2013 and December 31, 2012, respectively, and are excluded from the Consolidated Balance Sheets since they are not owned by the Company.

The book value of residential mortgage-servicing rights was $2.5 million and $2.6 million at June 30, 2013 and December 31, 2012, respectively. Residential mortgage-servicing rights are included in Other assets in the Consolidated Balance Sheets. The estimated fair value of residential mortgage-servicing rights was $3.4 million and $3.1 million at June 30, 2013 and December 31, 2012, respectively.

Residential Mortgage-Servicing Rights Activity

The following table summarizes the changes in residential mortgage-servicing rights at the dates and for the periods indicated (in thousands).

	For the three months ended June 30,						For the six months ended June 30,
	2013			2012			2013			2012
Mortgage-servicing rights portfolio, net of valuation allowance, beginning of period	$	2,575		$	2,563		$	2,584		$	2,586
Capitalized mortgage-servicing rights		176			179			384			363
Mortgage-servicing rights portfolio amortization and impairment		(226	)		(201	)		(443	)		(408	)
Mortgage-servicing rights portfolio, net of valuation allowance, end of period	$	2,525		$	2,541		$	2,525		$	2,541