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Mortgage Servicing Rights (Tables)
12 Months Ended
Dec. 31, 2013
Mortgage Servicing Rights.  
Summary of MSR Activity

 

 

 

For the Year Ended December 31,

(In Thousands)  

 

2013

 

2012

 

2011

 

Carrying amount before valuation allowance at beginning of year

 

$

15,143

 

 

$

15,401

 

 

$

16,321

 

 

Additions – servicing obligations that result from transfers of financial assets

 

3,681

 

 

3,651

 

 

2,330

 

 

Amortization

 

(3,229

)

 

(3,909

)

 

(3,250

)

 

Carrying amount before valuation allowance at end of year

 

15,595

 

 

15,143

 

 

15,401

 

 

Valuation allowance at beginning of year

 

(8,196

)

 

(7,265

)

 

(7,117

)

 

Recovery of (provision for) valuation allowance

 

5,401

 

 

(931

)

 

(148

)

 

Valuation allowance at end of year

 

(2,795

)

 

(8,196

)

 

(7,265

)

 

Net carrying amount at end of year

 

$

12,800

 

 

$

6,947

 

 

$

8,136

 

 

Mortgage Banking Income, Net

 

 

 

For the Year Ended December 31,

(In Thousands)  

 

2013

 

2012

 

2011

 

Loan servicing fees

 

$

4,189

 

 

$

4,070

 

 

$

4,095

 

 

Net gain on sales of loans

 

6,880

 

 

7,590

 

 

3,716

 

 

Amortization of MSR

 

(3,229

)

 

(3,909

)

 

(3,250

)

 

Recovery of (provision for) valuation allowance on MSR

 

5,401

 

 

(931

)

 

(148

)

 

Total mortgage banking income, net

 

$

13,241

 

 

$

6,820

 

 

$

4,413