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Mortgage Servicing Rights
 12 Months Ended
Dec. 31, 2013
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights
MORTGAGE SERVICING RIGHTS
        
Information with respect to the Company’s mortgage servicing rights follows:
Year Ended December 31,
2013
 
2012
 
2011
Balance at beginning of year
$
13,224

 
$
13,450

 
$
13,811

Sales of mortgage servicing rights
—

 
(735
)
 
—

Originations of mortgage servicing rights
3,581

 
4,563

 
2,864

Amortization expense
(2,787
)
 
(3,501
)
 
(3,225
)
Write-off of permanent impairment
—

 
(553
)
 
—

Balance at end of year
14,018

 
13,224

 
13,450

Less valuation reserve
(472
)
 
(571
)
 
(1,895
)
Balance at end of year
$
13,546

 
$
12,653

 
$
11,555

 
 
 
 
 
 
Principal balance of serviced loans underlying mortgage servicing rights
$
2,416,621

 
$
2,146,351

 
$
1,803,303

Mortgage servicing rights as a percentage of serviced loans
0.56
%
 
0.59
%
 
0.64
%

            
At December 31, 2013, the estimated fair value and weighted average remaining life of the Company’s mortgage servicing rights were $25,698 and 7.3 years, respectively. The fair value of mortgage servicing rights was determined using discount rates ranging from 9.8% to 21.0% and monthly prepayment speeds ranging from 0.5% to 3.0% depending upon the risk characteristics of the underlying loans. The Company reversed impairment of $99 and $771 in 2013 and 2012, respectively, and recorded additional impairment of $1,275 in 2011. Permanent impairment of $553 was charged against the carrying value of mortgage servicing rights in 2012. No permanent impairment was recorded in 2013 or 2011.
    
During 2012, the Company sold mortgage servicing rights with carrying values aggregating $735. A gain of $19 on the sale was recorded as other income. In conjunction with the sale, the Company entered into an agreement with the purchaser whereby the Company continues to sub-service the loans underlying the sold mortgage servicing rights.