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Mortgage Servicing Rights
 12 Months Ended
Dec. 31, 2016
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights
Mortgage Servicing Rights
(In Thousands)
Changes in the Company’s mortgage servicing rights (“MSRs”) were as follows:
Carrying value at January 1, 2015
$
11,662

Additions through acquisition
10,429

Capitalization
10,793

Amortization
(3,242
)
Carrying value at December 31, 2015
$
29,642

Sale of MSRs
(18,477
)
Capitalization
18,061

Amortization
(2,884
)
Impairment
(40
)
Carrying value at December 31, 2016
$
26,302



In 2016, the Company sold MSRs relating to mortgage loans having an aggregate unpaid principal balance totaling $1,830,444 to a third party for net proceeds of $18,508. There were no sales of MSRs in 2015 and 2014.
Data and key economic assumptions related to the Company’s mortgage servicing rights as of December 31 are as follows: 
 
2016
 
2015
 
2014
Unpaid principal balance
$
2,763,344

 
$
3,090,839

 
$
1,178,390

Weighted-average prepayment speed (CPR)
7.34
%
 
8.89
%
 
8.25
%
Estimated impact of a 10% increase
$
(1,034
)
 
$
(1,203
)
 
$
(1,038
)
Estimated impact of a 20% increase
(2,010
)
 
(2,330
)
 
(1,441
)
 
 
 
 
 
 
Discount rate
9.64
%
 
9.51
%
 
10.76
%
Estimated impact of a 100bp increase
$
(1,368
)
 
$
(1,357
)
 
$
(1,010
)
Estimated impact of a 200bp increase
(2,629
)
 
(2,612
)
 
(1,378
)
 
 
 
 
 
 
Weighted-average coupon interest rate
3.83
%
 
3.97
%
 
3.84
%
Weighted-average servicing fee (basis points)
25.87

 
25.04

 
25.04

Weighted-average remaining maturity (in years)
11.11

 
15.23

 
24.41


The Company recorded servicing fees of $3,212, $3,369 and $1,805, respectively, for each of the twelve months ended December 31, 2016, 2015 and 2014. These fees are included under the line item “Mortgage banking income” in the Consolidated Statements of Income.