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Mortgage Banking Activities (Tables)
6 Months Ended
Jun. 30, 2020
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 June 30, 2020December 31, 2019
 Unpaid Principal Balance/
Notional
Fair ValueUnpaid Principal Balance/
Notional
Fair Value
Residential mortgage loans held for sale$285,274  $296,445  $175,117  $177,703  
Residential mortgage loan commitments546,304  27,631  158,460  5,233  
Forward sales contracts825,775  (4,719) 315,203  (665) 
  $319,357   $182,271  
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2020201920202019
Production revenue:  
Net realized gains on sale of mortgage loans$24,109  $10,174  $33,826  $15,867  
Net change in unrealized gain on mortgage loans held for sale5,024  921  8,585  868  
Net change in the fair value of mortgage loan commitments3,381  1,506  22,398  4,219  
Net change in the fair value of forward sales contracts6,671  (732) (4,054) (1,217) 
Total production revenue39,185  11,869  60,755  19,737  
Servicing revenue14,751  16,262  30,348  32,228  
Total mortgage banking revenue$53,936  $28,131  $91,103  $51,965  
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 June 30, 2020December 31, 2019
Number of residential mortgage loans serviced for others116,232  126,828  
Outstanding principal balance of residential mortgage loans serviced for others$18,038,428  $20,727,106  
Weighted average interest rate3.96 %3.98 %
Remaining term (in months)283289
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,
2020201920202019
Beginning Balance$110,828  $238,193  $201,886  $259,254  
Additions8,465  8,751  13,906  14,939  
Disposals(10,801) —  (10,801) —  
Change in fair value due to principal payments(9,760) (9,081) (17,779) (15,664) 
Change in fair value due to market assumption changes(761) (29,555) (89,241) (50,221) 
Ending Balance$97,971  $208,308  $97,971  $208,308  
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, 2020December 31, 2019
Discount rate – risk-free rate plus a market premium9.67%9.81%
Prepayment rate - based upon loan interest rate, original term and loan type9.04% - 30.87%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
0.33%1.73%
Primary/secondary mortgage rate spread
105 bps104 bps
Delinquency rate
4.51%2.73%