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Mortgage Servicing Rights (Tables)
 6 Months Ended
Jun. 30, 2018
Transfers and Servicing [Abstract]  
Servicing Asset at Amortized Cost
The following table summarizes the Corporation’s activity related to mortgage servicing rights (“MSRs”) for the three and six months ended June 30, 2018 and 2017:
 
Three Months Ended June 30,
(dollars in thousands)
2018
 
2017
Balance, beginning of period
$
5,706

 
$
5,686

Additions
—

 
213

Amortization
(196
)
 
(173
)
Recovery / (Impairment)
1

 
(43
)
Balance, end of period
$
5,511

 
$
5,683

Fair value
$
6,695

 
$
6,057

 
Six Months Ended June 30,
(dollars in thousands)
2018
 
2017
Balance, beginning of period
$
5,861

 
$
5,582

Additions
16

 
489

Amortization
(417
)
 
(342
)
Recovery / (Impairment)
51

 
(46
)
Balance, end of period
$
5,511

 
$
5,683

Fair value
$
6,695

 
$
6,057

Residential mortgage loans serviced for others
$
614,259

 
$
631,888
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets
As of June 30, 2018, and December 31, 2017, key economic assumptions and the sensitivity of the current fair value of MSRs to immediate 10% and 20% percent adverse changes in those assumptions are as follows:
(dollars in thousands)
June 30,
2018
 
December 31,
2017
Fair value amount of MSRs
$
6,695

 
$
6,397

Weighted average life (in years)
6.6

 
6.1

Prepayment speeds (constant prepayment rate)*
9.0
%
 
10.3
%
Impact on fair value:
 
 
 
10% adverse change
$
(112
)
 
$
(194
)
20% adverse change
$
(242
)
 
$
(394
)
Discount rate
9.55
%
 
9.55
%
Impact on fair value:
 
 
 
10% adverse change
$
(247
)
 
$
(225
)
20% adverse change
$
(477
)
 
$
(434
)
 
  * Represents the weighted average prepayment rate for the life of the MSR asset.