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MORTGAGE SERVICING RIGHTS
 12 Months Ended
Dec. 31, 2011
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights
MORTGAGE SERVICING RIGHTS

The activity of the servicing asset for 2011, 2010 and 2009 is as follows:
 
 
2011
 
2010
 
2009
Balance, January 1
$
2,894

 
$
4,552

 
$
417

Amortization expense recognized during the year
(1,984
)
 
(1,354
)
 
(1,648
)
Adoption of change in accounting for QSPE
—

 
(304
)
 
—

Acquisition of servicing asset
3,436

 
—

 
5,783

Balance, December 31
$
4,346

 
$
2,894

 
$
4,552


    
During 2011, BancShares acquired the rights to service mortgage loans that had previously been sold by United Western. The asset was recorded at its fair value and is being amortized over the remaining estimated servicing life at acquisition of 60 months. In conjunction with the adoption of the change in accounting for QSPEs during 2010, the servicing asset related to a previous asset securitization was eliminated resulting in a decrease to the servicing asset of $304. During 2009, BancShares acquired the right to service SBA loans that had previously been sold by TVB. The asset was recorded at its fair value and is being amortized over the remaining estimated servicing life at acquisition of 24 months.