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Note 10 - Investment in Mortgage Servicing Rights

9 Months Ended

Sep. 30, 2015

Transfers and Servicing [Abstract]

Transfers and Servicing of Financial Assets [Text Block]

(10) Investment in Mortgage Servicing Rights

A summary of mortgage servicing rights activity is as follows:

(Dollars in thousands)		Nine Months ended September 30, 2015				Twelve Months ended December 31, 2014				Nine Months ended September 30, 2014
Mortgage servicing rights:
Balance, beginning of period		$	1,507				1,708				1,708
Originations			366				316				219
Amortization			(427	)			(517	)			(385	)
Balance, end of period		$	1,446				1,507				1,542
Fair value of mortgage servicing rights		$	2,579				2,562				2,661

All of the loans being serviced are single family loans serviced for the FNMA under the individual loan sale program. The following is a summary of the risk characteristics of the loans being serviced at September 30, 2015.

(Dollars in thousands)		Loan Principal Balance				Weighted Average Interest Rate				Weighted Average Remaining Term (months)				Number of Loans
Original term 30 year fixed rate		$	210,023				4.24				299				1,813
Original term 15 year fixed rate			107,843				3.25				139				1,205
Adjustable rate			59				4.38				308				2

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

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