RESERVE FOR LOSS ON REPURCHASED LOANS

The Company records a representation and warranty reserve representing its estimate of losses expected on mortgage loan repurchases or loss reimbursements attributable to underwriting or documentation defects on previously sold loans. The reserve for loss on repurchased loans is initially recorded at fair value against net revenue on mortgage banking activities at the time of sale, and any subsequent change in the reserve is recorded on the Consolidated Statements of Operations as an increase or decrease to the provision for loan repurchases (noninterest expense). The following table presents a summary of activity in the reserve for losses on repurchased loans for the periods indicated:



	Year Ended December 31,
($ in thousands)	2017			2016			2015
Balance at beginning of year	$	7,974		$	9,700		$	8,303
Initial provision for loan repurchases	1,622			3,942			2,026
Subsequent change in the reserve	(1,812		)	(3,352		)	2,326
Utilization of reserve for loan repurchases	(2,238		)	(2,316		)	(3,801		)
Other adjustments	760			—			846
Balance at end of year	$	6,306		$	7,974		$	9,700

The Company believes that all known or probable and estimable demands were adequately reserved for at December 31, 2017.