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Mortgage Banking Activities (Tables)
 6 Months Ended
Jun. 30, 2019
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 
 
June 30, 2019
 
December 31, 2018
 
 
Unpaid Principal Balance/
Notional
 
Fair Value
 
Unpaid Principal Balance/
Notional
 
Fair Value
Residential mortgage loans held for sale
 
$
185,536

 
$
188,318

 
$
145,057

 
$
146,971

Residential mortgage loan commitments
 
344,087

 
9,597

 
160,848

 
5,378

Forward sales contracts
 
492,216

 
(4,345
)
 
274,000

 
(3,128
)
 
 
 

 
$
193,570

 
 

 
$
149,221
Mortgage Banking Revenue [Table Text Block]

Mortgage banking revenue was as follows (in thousands):
 
 
Three Months Ended
June 30,
 
Six Months Ended June 30,
 
 
2019
 
2018
 
2019
 
2018
Production revenue:
 
 
 
 
 
 
 
 
Net realized gains on sale of mortgage loans
 
$
10,174

 
$
10,718

 
$
15,867

 
$
19,636

Net change in unrealized gain on mortgage loans held for sale
 
921

 
1,047

 
868

 
(322
)
Net change in the fair value of mortgage loan commitments
 
1,506

 
(1,124
)
 
4,219

 
950

Net change in the fair value of forward sales contracts
 
(732
)
 
(726
)
 
(1,217
)
 
(897
)
Total production revenue
 
11,869

 
9,915

 
19,737

 
19,367

Servicing revenue
 
16,262

 
16,431

 
32,228

 
33,004

Total mortgage banking revenue
 
$
28,131

 
$
26,346

 
$
51,965

 
$
52,371
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 
 
June 30, 2019
 
December 31, 2018
Number of residential mortgage loans serviced for others
 
130,270

 
132,463

Outstanding principal balance of residential mortgage loans serviced for others
 
$
21,349,914

 
$
21,658,335

Weighted average interest rate
 
4.01
%
 
3.99
%
Remaining term (in months)
 
291

 
293
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
 
 
Three Months Ended
June 30,
 
Six Months Ended June 30,
 
 
2019
 
2018
 
2019
 
2018
Beginning Balance
 
$
238,193

 
$
274,978

 
$
259,254

 
$
252,867

Additions, net
 
8,751

 
10,820

 
14,939

 
19,720

Change in fair value due to principal payments
 
(9,081
)
 
(8,802
)
 
(15,664
)
 
(16,797
)
Change in fair value due to market assumption changes
 
(29,555
)
 
1,723

 
(50,221
)
 
22,929

Ending Balance
 
$
208,308

 
$
278,719

 
$
208,308

 
$
278,719
Assumptions to Value Mortgage Servicing Rights [Table Text Block]

Mortgage servicing rights are not traded in active markets. Fair value is determined by discounting the projected net cash flows. Significant market assumptions used to determine fair value based on significant unobservable inputs were as follows:
 
 
June 30, 2019
 
December 31, 2018
Discount rate – risk-free rate plus a market premium
 
9.82%
 
9.90%
Prepayment rate - based upon loan interest rate, original term and loan type
 
8.28% - 17.32%
 
8.05% - 15.74%
Loan servicing costs – annually per loan based upon loan type:
 
 
 
 
Performing loans
 
$68 - $94
 
$67 - $93
Delinquent loans
 
$150 - $500
 
$150 - $500
Loans in foreclosure
 
$1,000 - $4,000
 
$1,000 - $4,000
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
 
1.75%
 
2.57%
Primary/secondary mortgage rate spread
 
109 bps
 
105 bps