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Mortgage Banking | 12 Months Ended
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Dec. 31, 2014
Mortgage Banking [Abstract] |
Mortgage Banking | Note 4 – Mortgage Banking Activity in secondary market loans during the year was as follows:
(Dollars in thousands) |  |  |  |
|  |  | 2014 |  |  |  | 2013 |  |  |  | 2012 |
Loans originated for resale, net of principal payments |  | $ | 29,850 |  |  | $ | 42,906 |  |  | $ | 44,889 |
Proceeds from loan sales |  |  | 29,561 |  |  |  | 45,204 |  |  |  | 45,622 |
Net gains on sales of loans held for sale |  |  | 1,023 |  |  |  | 1,566 |  |  |  | 1,634 |
Loan servicing fees, net of amortization |  |  | 166 |  |  |  | 167 |  |  |  | 131 |
Loans serviced for others are not reported as assets in the accompanying consolidated balance sheets. The unpaid principal balances of these loans were $91.4 million and $98.3 million at December 31, 2014 and 2013, respectively. The Bank maintains custodial escrow balances in connection with these serviced loans; however, such escrows were immaterial at December 31, 2014 and 2013. Activity for loan servicing rights (included in other assets) was as follows:
(Dollars in thousands) |  |  |  |  |  |
|  |  | 2014 |  |  |  | 2013 |  |  |  | 2012 |
Balance, beginning of year |  | $ | 544 |  |  | $ | 473 |  |  | $ | 318 |
Capitalized |  |  | 73 |  |  |  | 211 |  |  |  | 289 |
Amortization |  |  | (128 | ) |  |  | (140 | ) |  |  | (134 | )
Balance, end of year |  | $ | 490 |  |  | $ | 544 |  |  | $ | 473 |
The fair value of loan servicing rights was $942,000 and $958,000 as of December 31, 2014 and 2013, respectively. Consequently, a valuation allowance was not necessary at year-end 2014 or 2013. The fair value of servicing rights at December 31, 2014 was determined using a discount rate of 6.20% and prepayment speeds ranging from 7% to 13%. The fair value of servicing rights at December 31, 2013 was determined using a discount rate of 8.18% and prepayment speeds ranging from 7% to 23%.

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- Definition The entire disclosure for mortgage loans on real estate, this includes the supplemental information pertaining to each mortgage loan receivable that equals or exceeds three percent of the carrying amount of mortgages. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04.(c) Schedule IV) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 29 -Article 12 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule IV -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 948 -SubTopic 310 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -URI http://asc.fasb.org/extlink&oid=6589523&loc=d3e617274-123014 + Details
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