XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Mortgage Servicing Rights | 9 Months Ended
--- | ---
Sep. 30, 2016
Mortgage Servicing Rights [Abstract] |
Transfers and Servicing of Financial Assets [Text Block] | MORTGAGE SERVICING RIGHTS Our portfolio of residential mortgage loans serviced for third parties was $2.39 billion and $2.15 billion as of September 30, 2016 and December 31, 2015, respectively. These loans were originated by BancShares and sold to third parties on a non-recourse basis with servicing rights retained. These retained servicing rights are recorded as a servicing asset on the Consolidated Balance Sheets and are initially recorded at fair value. The activity of the servicing asset for the three and nine months ended September 30, 2016 and 2015 is presented in the following table:
| Three months ended September 30 |  | Nine months ended September 30
(Dollars in thousands) | 2016 |  | 2015 |  | 2016 |  | 2015
Beginning balance | $ | 16,824 |  |  | $ | 18,162 |  |  | $ | 19,351 |  |  | $ | 16,688 |
Servicing rights originated | 1,923 |  |  | 1,857 |  |  | 4,251 |  |  | 4,446 |
Amortization | (1,377 | ) |  | (695 | ) |  | (3,978 | ) |  | (2,657 | )
Valuation allowance reversal (provision) | 360 |  |  | 3 |  |  | (1,894 | ) |  | 850 |
Ending balance | $ | 17,730 |  |  | $ | 19,327 |  |  | $ | 17,730 |  |  | $ | 19,327 |
The following table presents the activity in the servicing asset valuation allowance for the three and nine months ended September 30, 2016 and 2015:
| Three months ended September 30 |  | Nine months ended September 30
(Dollars in thousands) | 2016 |  | 2015 |  | 2016 |  | 2015
Beginning balance | $ | 2,349 |  |  | $ | 3 |  |  | $ | 95 |  |  | $ | 850 |
Valuation allowance (reversal) provision | (360 | ) |  | (3 | ) |  | 1,894 |  |  | (850 | )
Ending balance | $ | 1,989 |  |  | $ | — |  |  | $ | 1,989 |  |  | $ | — |
As of September 30, 2016, the carrying value of BancShares' mortgage servicing rights was $17.7 million. Contractually specified mortgage servicing fees, late fees, and ancillary fees earned for the three months ended September 30, 2016 and 2015 were $1.5 million and $904 thousand, respectively. For the nine months ended September 30, 2016 and 2015, contractually specified mortgage servicing fees, late fees, and ancillary fees earned were $4.3 million and $3.6 million, respectively, and are included in mortgage income in the Consolidated Statements of Income. The amortization expense related to mortgage servicing rights, included as a reduction of mortgage income in the Consolidated Statements of Income, was $1.4 million and $695 thousand for the three months ended September 30, 2016 and 2015, respectively. For the nine months ended September 30, 2016 and 2015, amortization expense related to mortgage servicing rights was $4.0 million and $2.7 million, respectively. Mortgage income included an impairment reversal of $360 thousand and $3 thousand for the three months ended September 30, 2016 and 2015, respectively. For the nine months ended September 30, 2016 and 2015, mortgage income included an impairment of $1.9 million and an impairment reversal of $850 thousand, respectively. Valuation of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and evaluated on a discounted earnings basis to determine the present value of future earnings. Key economic assumptions used to value mortgage servicing rights as of September 30, 2016 and December 31, 2015 were as follows:
| September 30, 2016 |  | December 31, 2015
Discount rate - conventional fixed loans | 8.60 | % |  | 9.31 | %
Discount rate - all loans excluding conventional fixed loans | 9.60 | % |  | 10.31 | %
Weighted average constant prepayment rate | 14.83 | % |  | 11.01 | %
Weighted average cost to service a loan | $ | 62.75 |  |  | $ | 56.61 |

X
- Definition Mortgage Servicing Rights [Abstract] + References No definition available. + Details
Name: | fcnca_MortgageServicingRightsAbstract
Namespace Prefix: | fcnca_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64830801&loc=d3e107207-111719 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68078379&loc=d3e122596-111746 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=68078379&loc=d3e122739-111746 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=68078379&loc=d3e122625-111746 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=65883692&loc=SL6226446-111709 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=64830801&loc=d3e107314-111719 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65883692&loc=SL6226443-111709 + Details
Name: | us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration