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SERVICING RIGHTS (Tables)

9 Months Ended

Sep. 30, 2014

Transfers and Servicing [Abstract]

Servicing Rights

The following table presents a composition of servicing rights as of the dates indicated:

	September 30, 2014				December 31, 2013
	(In thousands)
Mortgage servicing rights, at fair value	$	11,376			$	13,535
SBA servicing rights, at cost	369				348
Total	$	11,745			$	13,883

Mortgage Servicing Rights Fair Value and Weighted Average Life

The following table presents the key characteristics, inputs and economic assumptions used to estimate the fair value of the MSRs as of the dates indicated:

	September 30, 2014				December 31, 2013
	($ in thousands)
Fair value of retained MSRs	$	11,376			$	13,535
Decay	20.55		%		15.40		%
Discount rate	10.70		%		10.39		%
Constant prepayment rate	12.41		%		10.28		%
Weighted-average life (in years)	6.20				7.37

Mortgage Servicing Rights

The following table presents activity in the MSRs for the periods indicated:

	Three Months Ended   September 30,								Nine Months Ended   September 30,
	2014				2013				2014				2013
	(In thousands)
Balance at beginning of period	$	9,816			$	4,620			$	13,535			$	1,739
Additions	7,735				2,836				18,871				5,598
Prepayments	(308		)		(146		)		(758		)		(308		)
Changes in fair value resulting from valuation inputs or assumptions	110				(79		)		(1,240		)		251
Sales of servicing rights	(5,623		)		—				(17,773		)		—
Other—loans paid off	(354		)		(11		)		(1,259		)		(60		)
Balance at end of period	$	11,376			$	7,220			$	11,376			$	7,220

Small Business Administration Servicing Rights

The following table presents activity in the SBA servicing rights for the periods indicated:

	Three Months Ended   September 30,								Nine Months Ended   September 30,
	2014				2013				2014				2013
	(In thousands)
Balance at beginning of period	$	375			$	420			$	348			$	539
Additions	18				—				87				32
Amortization, including prepayments	(24		)		(37		)		(66		)		(188		)
Balance at end of period	$	369			$	383			$	369			$	383

X

- Definition

Tabular disclosure including both mortgage servicing rights and SBA servicing rights as reflected in the period end balance sheet.

+ References

No definition available.

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- Definition

Tabular disclosure of all information related to the key inputs and assumptions (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) used in measuring the fair value of assets or liabilities that relate to the transferor's continuing involvement with transferred financial assets, as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 860

-SubTopic 20

-Section 50

-Paragraph 4

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=13989330&loc=d3e107314-111719

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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=7882072&loc=d3e122739-111746

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 860

-SubTopic 50

-Section 50

-Paragraph 3

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7882072&loc=d3e122625-111746

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