XML 31 R18.htm IDEA: XBRL DOCUMENT v3.6.0.2
Mortgage Servicing Rights
 12 Months Ended
Dec. 31, 2016
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,
2016
 
2015
 
2014
Balance at beginning of year
$
15,860

 
$
14,374

 
$
14,018

Acquisitions of mortgage servicing rights
—

 
306

 
—

Originations of mortgage servicing rights
5,758

 
3,614

 
2,717

Amortization expense
(2,957
)
 
(2,434
)
 
(2,361
)
Balance at end of year
18,661

 
15,860

 
14,374

Less valuation reserve
(204
)
 
(239
)
 
(336
)
Balance at end of year
$
18,457

 
$
15,621

 
$
14,038

 
 
 
 
 
 
Principal balance of serviced loans underlying mortgage servicing rights
$
3,127,528

 
$
2,906,239

 
$
2,615,311

Mortgage servicing rights as a percentage of serviced loans
0.59
%
 
0.54
%
 
0.54
%

            
At December 31, 2016, the estimated fair value and weighted average remaining life of the Company’s mortgage servicing rights were $35,656 and 8.0 years, respectively. The fair value of mortgage servicing rights was determined using discount rates ranging from 9.6% to 11.4% and monthly prepayment speeds ranging from 0.5% to 1.5% depending upon the risk characteristics of the underlying loans. At December 31, 2015, the estimated fair value and weighted average remaining life of the Company’s mortgage servicing rights were $31,011 and 7.3 years, respectively. The fair value of mortgage servicing rights was determined using discount rates ranging from 9.8% to 14.5% and monthly prepayment speeds ranging from 0.5% to 1.8% depending upon the risk characteristics of the underlying loans. The Company reversed impairment of $35, $97 and $136 in 2016, 2015 and 2014, respectively. No permanent impairment was recorded in 2016, 2015 or 2014.