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Commercial mortgage banking (Tables)

3 Months Ended

Mar. 31, 2013

Text Block [Abstract]

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

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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.

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