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Mortgage Banking Activities (Tables)
3 Months Ended
Mar. 31, 2021
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 March 31, 2021December 31, 2020
 Unpaid Principal Balance/
Notional
Fair ValueUnpaid Principal Balance/
Notional
Fair Value
Residential mortgage loans held for sale$260,005 $262,333 $227,161 $236,444 
Residential mortgage loan commitments387,465 11,455 380,637 20,435 
Forward sales contracts584,743 10,659 549,414 (4,563)
  $284,447  $252,316 
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 Three Months Ended March 31,
 20212020
Production revenue:  
Net realized gains on sale of mortgage loans$26,000 $9,717 
Net change in unrealized gain (loss) on mortgage loans held for sale(6,955)3,561 
Net change in the fair value of mortgage loan commitments(8,980)19,017 
Net change in the fair value of forward sales contracts15,222 (10,725)
Total production revenue25,287 21,570 
Servicing revenue11,826 15,597 
Total mortgage banking revenue$37,113 $37,167 
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 March 31, 2021December 31, 2020
Number of residential mortgage loans serviced for others101,912 106,201 
Outstanding principal balance of residential mortgage loans serviced for others$15,458,772 $16,228,449 
Weighted average interest rate3.78 %3.84 %
Remaining term (in months)279280
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
Three Months Ended March 31,
20212020
Beginning Balance$101,172 $201,886 
Additions9,830 5,441 
Change in fair value due to principal payments(11,961)(8,019)
Change in fair value due to market assumption changes33,874 (88,480)
Ending Balance$132,915 $110,828 
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:
 March 31, 2021December 31, 2020
Discount rate – risk-free rate plus a market premium9.13%9.14%
Prepayment rate - based upon loan interest rate, original term and loan type
6.37% - 17.80%
9.41% - 21.87%
Loan servicing costs – annually per loan based upon loan type:
Performing loans
$69 - $94
$69 - $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
1.04%0.43%
Primary/secondary mortgage rate spread
105 bps105 bps
Delinquency rate
2.77%3.54%