XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.20.2

Servicing Assets | 9 Months Ended
--- | ---
Sep. 30, 2020
Transfers And Servicing [Abstract] |
Servicing Assets | Note 7—Servicing Assets Activity for servicing assets and the related changes in fair value for the three and nine months ended September 30, 2020 and 2019 was as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Beginning balance |  | $ | 18,351 |  |  | $ | 19,760 |  |  | $ | 19,471 |  |  | $ | 19,693 |
Additions, net |  |  | 1,794 |  |  |  | 1,789 |  |  |  | 4,449 |  |  |  | 4,340 |
Changes in fair value |  |  | 1,122 |  |  |  | (1,610 | ) |  |  | (2,653 | ) |  |  | (4,094 | )
Ending balance |  | $ | 21,267 |  |  | $ | 19,939 |  |  | $ | 21,267 |  |  | $ | 19,939 |
Loans serviced for others are not included in the Consolidated Statements of Financial Condition. The unpaid principal balances of these loans serviced for others as of September 30, 2020 and December 31, 2019 were as follows:
|  | September 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Loan portfolios serviced for: |  |  |  |  |  |  |  |
SBA guaranteed loans |  | $ | 1,333,598 |  |  | $ | 1,231,959 |
USDA guaranteed loans |  |  | 121,650 |  |  |  | 119,047 |
Total |  | $ | 1,455,248 |  |  | $ | 1,351,006 |
Loan servicing revenue totaled $2.9 million and $2.7 million for the three months ended September 30, 2020 and 2019, respectively. Loan servicing revenue totaled $8.7 million and $7.9 million for the nine months ended September 30, 2020 and 2019, respectively. Loan servicing asset revaluation, which represents the changes in fair value of servicing assets, resulted in an upward valuation of $1.1 million for three months ended September 30, 2020 and a downward valuation of $1.6 million for three months ended September 30, 2019, respectively. Loan servicing asset revaluation resulted in downward valuations of $2.7 million and $4.1 million for the nine months ended September 30, 2020 and 2019, respectively. The fair value of servicing rights is highly sensitive to changes in underlying assumptions. Changes in secondary market premiums contribute to the change in fair value of servicing rights while prepayment speed assumptions have the most significant impact on the fair value of servicing rights. Generally, as interest rates rise on variable rate loans, loan prepayments increase due to an increase in refinance activity, which may result in a decrease in the fair value of servicing assets. Measurement of fair value is limited to the conditions existing and the assumptions used as of a particular point in time, and those assumptions may change over time. Refer to Note 15—Fair Value Measurement for further details.

X
- References No definition available. + Details
Name: | us-gaap_TransfersAndServicingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details
Name: | us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration