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Transfers of financial assets and mortgage servicing assets (Tables)
12 Months Ended
Dec. 31, 2019
Transfers and Servicing of Financial Assets  
Schedule Of Securitizations Of Financial Assets Accounted For As Sale [Text Block]

 

 

Proceeds Obtained During the Year Ended December 31, 2019

(In thousands)

Level 1

Level 2

Level 3

Initial fair value

Assets

 

 

 

 

 

 

 

 

Trading account debt securities:

 

 

 

 

 

 

 

 

Mortgage-backed securities - GNMA

$

-

$

347,396

$

-

$

347,396

Mortgage-backed securities - FNMA

 

-

 

111,362

 

-

 

111,362

Total trading account debt securities

$

-

$

458,758

$

-

$

458,758

Mortgage servicing rights

$

-

$

-

$

8,185

$

8,185

Total

$

-

$

458,758

$

8,185

$

466,943

 

 

Proceeds Obtained During the Year Ended December 31, 2018

(In thousands)

Level 1

Level 2

Level 3

Initial fair value

Assets

 

 

 

 

 

 

 

 

Debt securities available for sale:

 

 

 

 

 

 

 

 

Mortgage-backed securities - FNMA

$

-

$

11,865

$

-

$

11,865

Total debt securities available-for-sale

$

-

$

11,865

 

-

$

11,865

Trading account debt securities:

 

 

 

 

 

 

 

 

Mortgage-backed securities - GNMA

$

-

$

412,500

$

-

$

412,500

Mortgage-backed securities - FNMA

 

-

 

82,320

 

-

 

82,320

Total trading account debt securities

$

-

$

494,820

$

-

$

494,820

Mortgage servicing rights

$

-

$

-

$

9,337

$

9,337

Total

$

-

$

506,685

$

9,337

$

516,022

Schedule Of Servicing Assets At Fair Value Text Block

Residential MSRs

(In thousands)

December 31, 2019

December 31, 2018

Fair value at beginning of period

$

169,777

$

168,031

Additions

 

9,143

 

10,223

Changes due to payments on loans[1]

 

(11,549)

 

(13,459)

Reduction due to loan repurchases

 

(1,777)

 

(3,721)

Changes in fair value due to changes in valuation model inputs or assumptions

 

(14,190)

 

8,703

Other disposals

 

(498)

 

-

Fair value at end of period

$

150,906

$

169,777

[1]

Represents changes due to collection / realization of expected cash flows over time.

 

 

 

 

Schedule Of Assumptions For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Servicing Liabilities Text Block

 

Years ended

 

December 31, 2019

December 31, 2018

Prepayment speed

7.0

%

5.0

%

Weighted average life (in years)

9.5

 

10.8

 

Discount rate (annual rate)

10.9

%

11.0

%

Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets

 

 

Originated MSRs

Purchased MSRs

 

 

December 31,

December 31,

December 31,

December 31,

(In thousands)

2019

2018

2019

2018

Fair value of servicing rights

$

58,842

 

$

69,400

 

$

92,064

 

$

100,377

 

Weighted average life (in years)

 

6.7

 

 

7.1

 

 

6.3

 

 

6.6

 

Weighted average prepayment speed (annual rate)

 

5.7

%

 

5.1

%

 

6.2

%

 

5.5

%

 

Impact on fair value of 10% adverse change

$

(1,303)

 

$

(1,430)

 

$

(2,306)

 

$

(2,200)

 

 

Impact on fair value of 20% adverse change

$

(2,568)

 

$

(2,817)

 

$

(4,525)

 

$

(4,328)

 

Weighted average discount rate (annual rate)

 

11.4

%

 

11.5

%

 

11.0

%

 

11.0

%

 

Impact on fair value of 10% adverse change

$

(2,381)

 

$

(3,125)

 

$

(3,603)

 

$

(4,354)

 

 

Impact on fair value of 20% adverse change

$

(4,596)

 

$

(6,019)

 

$

(6,959)

 

$

(8,394)

 

Qualitative and Quantitative Information, Transferor's Continuing Involvement [Table Text Block]

2019

(In thousands)

 

Total principal amount of loans, net of unearned

 

Principal amount 60 days or more past due

 

Net credit losses (recoveries)

Loans (owned and managed):

 

 

 

 

 

 

Commercial

$

12,312,751

$

200,568

$

66,119

Construction

 

831,092

 

145

 

(898)

Legacy

 

22,105

 

2,007

 

(1,399)

Lease financing

 

1,059,507

 

6,710

 

9,337

Mortgage

 

8,404,911

 

1,071,537

 

40,644

Consumer

 

5,997,886

 

140,928

 

142,470

Less:

 

 

 

 

 

 

Loans securitized / sold

 

1,162,176

 

72,574

 

(1,146)

Loans held-for-sale

 

59,203

 

-

 

-

Loans held-in-portfolio

$

27,406,873

$

1,349,321

$

257,419

2018

(In thousands)

 

Total principal amount of loans, net of unearned

 

Principal amount 60 days or more past due

 

Net credit losses (recoveries)

Loans (owned and managed):

 

 

 

 

 

 

Commercial

$

12,043,019

$

290,759

$

85,715

Construction

 

779,449

 

13,848

 

4,452

Legacy

 

25,949

 

3,072

 

(2,032)

Lease financing

 

934,773

 

5,140

 

6,030

Mortgage

 

8,620,667

 

1,315,384

 

66,209

Consumer

 

5,489,441

 

117,775

 

122,170

Less:

 

 

 

 

 

 

Loans securitized / sold

 

1,333,987

 

129,443

 

394

Loans held-for-sale

 

51,422

 

-

 

-

Loans held-in-portfolio

$

26,507,889

$

1,616,535

$

282,150