Loans Held For Sale And Loan Servicing Rights

12 Months Ended

Dec. 31, 2015

Loans Held For Sale And Loan Servicing Rights [Abstract]

Loans Held For Sale And Loan Servicing Rights

(4.) LOANS HELD FOR SALE AND LOAN SERVICING RIGHTS

Loans held for sale were entirely comprised of residential real estate mortgages and totaled $1.4 million and $755 thousand as of December 31, 2015 and 2014, respectively.

The Company sells certain qualifying newly originated or refinanced residential real estate mortgages on the secondary market. Residential real estate mortgages serviced for others, which are not included in the consolidated statements of financial condition, amounted to $196.0 million and $215.2 million as of December 31, 2015 and 2014, respectively. In connection with these mortgage-servicing activities, the Company administered escrow and other custodial funds which amounted to approximately $4.4 million and $4.6 million as of December 31, 2015 and 2014, respectively.

The activity in capitalized mortgage servicing assets is summarized as follows for the years ended December 31 (in thousands):

		2015			2014			2013
Mortgage servicing assets, beginning of year	$	1,335		$	1,479		$	1,637
Originations		166			172			277
Amortization		(276	)		(316	)		(435	)
Mortgage servicing assets, end of year		1,225			1,335			1,479
Valuation allowance		(1	)		(6	)		(3	)
Mortgage servicing assets, net, end of year	$	1,224		$	1,329		$	1,476