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Mortgage Banking Activities (Tables)
 3 Months Ended
Mar. 31, 2020
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 
 
March 31, 2020
 
December 31, 2019
 
 
Unpaid Principal Balance/
Notional
 
Fair Value
 
Unpaid Principal Balance/
Notional
 
Fair Value
Residential mortgage loans held for sale
 
$
185,713

 
$
191,860

 
$
175,117

 
$
177,703

Residential mortgage loan commitments
 
657,570

 
24,250

 
158,460

 
5,233

Forward sales contracts
 
750,719

 
(11,390
)
 
315,203

 
(665
)
 
 
 

 
$
204,720

 
 

 
$
182,271
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 
 
Three Months Ended
March 31,
 
 
2020
 
2019
Production revenue:
 
 
 
 
Net realized gains on sale of mortgage loans
 
$
9,717

 
$
5,693

Net change in unrealized gain on mortgage loans held for sale
 
3,561

 
(53
)
Net change in the fair value of mortgage loan commitments
 
19,017

 
2,713

Net change in the fair value of forward sales contracts
 
(10,725
)
 
(485
)
Total production revenue
 
21,570

 
7,868

Servicing revenue
 
15,597

 
15,966

Total mortgage banking revenue
 
$
37,167

 
$
23,834
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 
 
March 31, 2020
 
December 31, 2019
Number of residential mortgage loans serviced for others
 
124,819

 
126,828

Outstanding principal balance of residential mortgage loans serviced for others
 
$
20,261,526

 
$
20,727,106

Weighted average interest rate
 
3.96
%
 
3.98
%
Remaining term (in months)
 
287

 
289
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
 
 
Three Months Ended
March 31,
 
 
2020
 
2019
Beginning Balance
 
$
201,886

 
$
259,254

Additions, net
 
5,441

 
6,188

Change in fair value due to principal payments
 
(8,019
)
 
(6,583
)
Change in fair value due to market assumption changes
 
(88,480
)
 
(20,666
)
Ending Balance
 
$
110,828

 
$
238,193
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:
 
 
March 31, 2020
 
December 31, 2019
Discount rate – risk-free rate plus a market premium
 
9.80%
 
9.81%
Prepayment rate - based upon loan interest rate, original term and loan type
 
8.22% - 32.80%
 
8.28% - 16.05%
Loan servicing costs – annually per loan based upon loan type:
 
 
 
 
Performing loans
 
$69 - $94
 
$68 - $94
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
 
0.53%
 
1.73%
Primary/secondary mortgage rate spread
 
105 bps
 
104 bps
Delinquency rate
 
2.55%
 
2.73%