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Mortgage Servicing Rights (Tables) | 6 Months Ended
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Jun. 30, 2018
Mortgage Servicing Rights |
Schedule of estimated future amortization expense for mortgage servicing assets | Amortization of mortgage servicing rights (“MSRs”) was $1.0 million and $0.9 million for the three months ended June 30, 2018 and 2017, respectively, and $2.0 million and $1.9 million for the six months ended June 30, 2018 and 2017, respectively. The estimated future amortization expenses for MSRs over the next five years are as follows:
|  | Estimated
(dollars in thousands) |  | Amortization
Under one year |  | $ | 2,469
One to two years |  |  | 2,183
Two to three years |  |  | 1,932
Three to four years |  |  | 1,707
Four to five years |  |  | 1,508
Schedule of gross carrying values, accumulated amortization, and net carrying values of mortgage servicing assets |
|  | June 30, |  | December 31,
(dollars in thousands) |  | 2018 |  | 2017
Gross carrying amount |  | $ | 63,043 |  | $ | 56,571
Less: accumulated amortization |  |  | 45,383 |  |  | 43,375
Net carrying value |  | $ | 17,660 |  | $ | 13,196
Schedule of changes in amortized mortgage servicing assets |
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Balance at beginning of period |  | $ | 18,659 |  | $ | 15,800 |  | $ | 13,196 |  | $ | 16,809
Originations |  |  | 21 |  |  | 1 |  |  | 28 |  |  | 4
Purchases |  |  | — |  |  | — |  |  | 6,444 |  |  | —
Amortization |  |  | (1,020) |  |  | (924) |  |  | (2,008) |  |  | (1,936)
Balance at end of period |  | $ | 17,660 |  | $ | 14,877 |  | $ | 17,660 |  | $ | 14,877
Fair value of amortized MSRs at beginning of period |  | $ | 29,048 |  | $ | 24,495 |  | $ | 21,697 |  | $ | 25,160
Fair value of amortized MSRs at end of period |  | $ | 28,344 |  | $ | 23,263 |  | $ | 28,344 |  | $ | 23,263
Schedule of quantitative assumptions used in determining lower of cost or fair value of MSRs |
|  | June 30, 2018 |  | December 31, 2017 |
|  |  |  |  |  |  | Weighted |  |  |  |  |  |  | Weighted |
|  | Range |  | Average |  | Range |  | Average |
Conditional prepayment rate |  | 7.72 | % | - | 20.28 | % | 8.13 | % | 8.53 | % | - | 19.63 | % | 9.04 | %
Life in years (of the MSR) |  | 3.26 |  | - | 7.98 |  | 7.31 |  | 3.29 |  | - | 7.15 |  | 6.76 |
Weighted-average coupon rate |  | 3.96 | % | - | 6.75 | % | 4.02 | % | 3.97 | % | - | 6.79 | % | 4.04 | %
Discount rate |  | 10.50 | % | - | 10.50 | % | 10.50 | % | 10.50 | % | - | 10.52 | % | 10.50 | %

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- Definition Tabular disclosure of all information related to the key inputs and assumptions used in measuring the fair value of assets obtained or liabilities incurred, as the result of a sale of financial assets, relating to the transferor's continuing involvement, if any, at the time of securitization, asset-backed financing arrangement, or similar transfer (including at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses, including expected static pool losses). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=82924980&loc=d3e107207-111719 + Details
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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of activity in the balance of servicing assets subsequently measured at amortized cost. Includes, but is not limited to, beginning and ending balances, additions, disposals, and amortization. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=68078379&loc=d3e122739-111746 + Details
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
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