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Loans Held for Sale, Loan Servicing and Mortgage Origination (Tables)
3 Months Ended
Mar. 31, 2013
Schedule of Servicing Assets at Fair Value [Table Text Block] The following table presents the changes in the fair value of MSRs and its offsetting hedge.

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarters Ended March 31,

 

 

 

(in thousands)

 

2013

 

 

2012

 

 

 

Decrease in fair value of MSRs

 

$

(431

)

 

$

(538

)

Gain (loss) related to derivatives

 

 

194

 

 

 

(406

)

 

 

     

 

     

Net effect on Consolidated Statements of Income

 

$

(237

)

 

$

(944

)

 

 

     

 

     

 

 

 

 

 

 

 

 

 

 
Schedule of activity in the residential mortgage servicing rights [Table Text Block] The following table is an analysis of the activity in the MSRs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarters Ended March 31,

 

 

 

(in thousands)

 

2013

 

 

2012

 

 

Carrying value at beginning of period

 

$

13,910

 

 

$

10,663

 

Additions

 

 

 

 

 

 

 

 

Servicing assets that resulted from transfers of financial assets

 

 

1,818

 

 

 

1,773

 

 

 

 

 

 

 

 

 

 

Change in fair value

 

 

 

 

 

 

 

 

Due to increases (decreases) in valuation inputs or assumptions

 

 

221

 

 

 

(27

)

Due to increases in principal paydowns or runoff

 

 

(652

)

 

 

(511

)

 

 

     

 

     

Carrying value at end of period

 

$

15,297

 

 

$

11,898

 

 

 

     

 

     

 

 
Schedule of mortgage loan securitizations and whole loan sales [Table Text Block] The following table displays mortgage loan securitizations and whole loan sales during the respective periods.

 

 

 

 

 

 

 

 

 

       

 

 

 

 

 

 

Quarters Ended March 31,

 

 

 

   

(in thousands)

 

2013

 

2012

         

Loan securitization with Fannie Mae

 

$

71,131

 

 

$

127,401

 

Loan sales to Fannie Mae

 

 

102,540

 

 

 

23,031

 

Loan sales to FHLB

 

 

3,521

 

 

 

2,678

 

Loan sales or securitizations to other investors

 

 

658

 

 

 

5,098

 

 

 

     

 

     

Total loan securitizations and loan sales

 

$

177,850

 

 

$

158,208