Mortgage Servicing Rights

12 Months Ended

Dec. 31, 2016

Transfers and Servicing of Financial Assets [Abstract]

MORTGAGE SERVICING RIGHTS

For the years ended December 31, 2016, 2015 and 2014, the 1-4 family mortgage loans that were sold to Fannie Mae amounted to $93.9 million, $76.8 million and $40.1 million. At December 31, 2016, 2015 and 2014 our servicing portfolio totaled $407.3 million, $361.2 million and $325.8 million.

The following table indicates MSRs and the net carrying values:



(dollars in thousands)	Servicing Rights			Valuation Allowance			Net Carrying Value
Balance at December 31, 2014	$	3,108		$	(291	)	$	2,817
Additions	856			—			856
Amortization	(538		)	—			(538		)
Temporary (impairment) recapture	—			102			102
Balance at December 31, 2015	$	3,426		$	(189	)	$	3,237
Additions	1,047			—			1,047
Amortization	(615		)	—			(615		)
Temporary (impairment) recapture	—			75			75
Balance at December 31, 2016	$	3,858		$	(114	)	$	3,744

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References + Details