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Commercial mortgage banking (Tables) | 3 Months Ended
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Mar. 31, 2013
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Summary of Changes in Mortgage Servicing Rights | The following tables summarize the changes in MSR’s for the three months ended March 31, 2013 and March 31, 2012:
(expressed in thousands of dollars) |  |  |
Balance, as of December 31, 2012 |  | $ | 26,983 |
Originations (1) |  |  | 1,540 |
Purchases |  |  | 186 |
Disposals (1) |  |  | (882 | )
Amortization expense |  |  | (640 | )
Balance, as of March 31, 2013 |  | $ | 27,187 |
(1) | Includes refinancing.
(expressed in thousands of dollars) |  |  |
Balance, as of December 31, 2011 |  | $ | 22,795 |
Originations (1) |  |  | 1,299 |
Purchases |  |  | 1,252 |
Disposals (1) |  |  | (448 | )
Amortization expense |  |  | (672 | )
Balance, as of March 31, 2012 |  | $ | 24,226 |
(1) | Includes refinancing.
Schedule of Amortization Expense | Servicing rights are amortized using the straight-line method over 10 years. Amortization expense for the next five years is as follows:
(expressed in thousands of dollars) |  |  |
2013 |  | $ | 3,309 |
2014 |  |  | 3,291 |
2015 |  |  | 3,291 |
2016 |  |  | 3,286 |
2017 |  |  | 3,259 |
Thereafter |  |  | 10,751 |
|  | $ | 27,187 |
Components of Mortgage Servicing Rights Fees | The Company receives fees during the course of servicing the mortgage loans. The amount of these fees for the three months ended March 31, 2013 and 2012 were as follows:
(expressed in thousands of dollars) |  |  |  |  |  |
|  | Three months ended March 31, |
|  | 2013 |  |  | 2012 |
Servicing fees |  | $ | 1,208 |  |  | $ | 927 |
Late fees |  |  | 62 |  |  |  | 23 |
Ancillary fees |  |  | 57 |  |  |  | 97 |
Total MSR fees |  | $ | 1,327 |  |  | $ | 1,047 |

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- Definition Servicing Revenue And Fees Table [Text Block] + References No definition available. + 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 No definition available. + Details
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- Definition Tabular disclosure of the activity in the balance of servicing assets subsequently measured at amortized value (including a description of where changes in carrying 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 (through purchases of servicing assets and servicing assets that result from transfers of financial assets), disposals, amortization, application of valuation allowances, other-than-temporary impairments, 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 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7882072&loc=d3e122739-111746 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS140-4/FIN46(R)-8 -Paragraph B10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 140 -Paragraph 17 -Subparagraph g -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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