Loans Held For Sale And Loan Servicing Rights

12 Months Ended

Dec. 31, 2016

Loans Held For Sale And Loan Servicing Rights [Abstract]

Loans Held For Sale And Loan Servicing Rights

(4.) LOANS HELD FOR SALE AND LOAN SERVICING RIGHTS

Loans held for sale were entirely comprised of residential real estate loans and totaled $1.1 million and $1.4 million as of December 31, 2016 and 2015, respectively.

The Company sells certain qualifying newly originated or refinanced residential real estate loans on the secondary market. Residential real estate loans serviced for others, which are not included in the consolidated statements of financial condition, amounted to $173.7 million and $196.0 million as of December 31, 2016 and 2015, respectively. In connection with these mortgage-servicing activities, the Company administered escrow and other custodial funds which amounted to approximately $4.0 million and $4.4 million as of December 31, 2016 and 2015, respectively.

The activity in capitalized loan servicing assets is summarized as follows for the years ended December 31 (in thousands):


		2016			2015			2014
Mortgage servicing assets, beginning of year	$	1,225		$	1,335		$	1,479
Originations		150			166			172
Amortization		(298	)		(276	)		(316	)
Mortgage servicing assets, end of year		1,077			1,225			1,335
Valuation allowance		(2	)		(1	)		(6	)
Mortgage servicing assets, net, end of year	$	1,075		$	1,224		$	1,329