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Mortgage Banking Activities (Tables)

12 Months Ended

Dec. 31, 2020

Mortgage Banking [Abstract]

Components of Residential Mortgage Loans Held For Sale [Table Text Block]

The unpaid principal balance of residential mortgage loans held for sale, notional amounts of derivative contracts related to residential mortgage loan commitments and forward contract sales and their related fair values included in Mortgage loans held for sale on the Consolidated Balance Sheets were (in thousands):

						December 31, 2020												December 31, 2019
						Unpaid Principal Balance/ Notional						Fair Value						Unpaid Principal Balance/ Notional						Fair Value
Residential mortgage loans held for sale						$	227,161					$	236,444					$	175,117					$	177,703
Residential mortgage loan commitments						380,637						20,435						158,460						5,233
Forward sales contracts						549,414						(4,563)						315,203						(665)
												$	252,316											$	182,271

Mortgage Banking Revenue [Table Text Block]

Mortgage banking revenue was as follows (in thousands):

						Year Ended
						2020						2019						2018
Production revenue:
Net realized gains on sales of mortgage loans						$	107,847					$	39,730					$	36,379
Net change in unrealized gain on mortgage loans held for sale						6,697						672						(674)
Net change in the fair value of mortgage loan commitments						15,202						(145)						(1,145)
Net change in the fair value of forward sales contracts						(3,898)						2,463						(2,870)
Total mortgage production revenue						125,848						42,720						31,690
Servicing revenue						56,512						64,821						66,097
Total mortgage banking revenue						$	182,360					$	107,541					$	97,787

Summary of Mortgage Servicing Rights [Table Text Block]

The following represents a summary of mortgage servicing rights (Dollars in thousands):

						December 31,
						2020						2019						2018
Number of residential mortgage loans serviced for others						106,201						126,828						132,463
Outstanding principal balance of residential mortgage loans serviced for others						$	16,228,449					$	20,727,106					$	21,658,335
Weighted average interest rate						3.84		%				3.98		%				3.99		%
Remaining contractual term (in months)						280						289						293

Activity in Capitalized Mortgage Servicing Rights [Table Text Block]

Activity in capitalized mortgage servicing rights during the three years ended December 31, 2020 is as follows (in thousands):

Balance, December 31, 2017						$	252,867
Additions, net						35,247
Change in fair value due to loan runoff						(33,528)
Change in fair value due to market changes						4,668
Balance, December 31, 2018						259,254
Additions, net						35,128
Change in fair value due to loan runoff						(38,979)
Change in fair value due to market changes						(53,517)
Balance, December 31, 2019						201,886
Additions						31,209
Disposals						(10,801)
Change in fair value due to loan runoff						(41,598)
Change in fair value due to market changes						(79,524)
Balance, December 31, 2020						$	101,172

Assumptions to Value Mortgage Servicing Rights [Table Text Block]

Significant assumptions used to determine fair value considered to be significant unobservable inputs were as follows:

						December 31,
						2020						2019
Discount rate – risk-free rate plus a market premium						9.14%						9.81%
Prepayment rate - based upon loan interest rate, original term and loan type						9.41% - 21.87%						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
Primary/secondary mortgage rate spread						105 bps						104 bps
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life						0.43%						1.73%
Delinquency rate						3.54%						2.73%

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Assumptions to Value Mortgage Servicing Rights [Table Text Block]

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Tabular disclosure of mortgage loans to individuals not classified as held for investment but are held-for-sale.

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Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 50
-Section 50
-Paragraph 3
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122625-111746

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