XML 26 R13.htm IDEA: XBRL DOCUMENT
v3.19.1

Mortgage Banking | 12 Months Ended
--- | ---
Dec. 31, 2018
Mortgage Banking [Abstract] |
Mortgage Banking | Note 4 – Mortgage Banking Activity in secondary market loans during the year was as follows:
(Dollars in thousands) |  |  |  |  |  |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Loans originated for resale, net of principal payments |  | $ | 33,555 |  |  | $ | 43,171 |  |  | $ | 53,591 |
Proceeds from loan sales |  |  | 34,872 |  |  |  | 42,883 |  |  |  | 57,830 |
Net gains on sales of loans held for sale |  |  | 1,003 |  |  |  | 1,265 |  |  |  | 1,748 |
Loan servicing fees, net of amortization |  |  | 91 |  |  |  | 155 |  |  |  | 159 |
Net gains on sales of loans held for sale include capitalization of loan servicing rights. Loans serviced for others are not reported as assets in the accompanying consolidated balance sheets. The unpaid principal balances of these loans were $134.6 million and $122.5 million at December 31, 2018 and 2017, respectively. The Bank maintains custodial escrow balances in connection with these serviced loans; however, such escrows were immaterial at December 31, 2018 and 2017. Activity for loan servicing rights (included in other assets) was as follows:
(Dollars in thousands) |  |  |  |  |  |  |  |  |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Balance, beginning of year |  | $ | 908 |  |  | $ | 697 |  |  | $ | 378 |
Capitalized |  |  | 441 |  |  |  | 443 |  |  |  | 491 |
Amortization |  |  | (300 | ) |  |  | (232 | ) |  |  | (172 | )
Balance, end of year |  | $ | 1,049 |  |  | $ | 908 |  |  | $ | 697 |
The fair value of loan servicing rights was $1,700,000 and $1,402,000 as of December 31, 2018 and 2017, respectively. Consequently, a valuation allowance was not necessary at year-end 2018 or 2017. The fair value of servicing rights at December 31, 2018 was determined using a discount rate of 6.92% and prepayment speeds ranging from 7% to 13%. The fair value of servicing rights at December 31, 2017 was determined using a discount rate of 6.29% and prepayment speeds ranging from 7% to 14%.

X
- Definition The entire disclosdure for mortgage banking. + References No definition available. + Details
Name: | cofs_MortgageBankingTextBlock
Namespace Prefix: | cofs_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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