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Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2013
Intangible Assets |
Summary of amortizable intangible assets |
(in thousands) |  | September 30, 2013 |  | December 31, 2012 |
|  | Gross |  |  |  |  |  | Gross |  |  |  |  |
|  | Carrying |  | Accumulated |  | Net |  | Carrying |  | Accumulated |  | Net |
|  | Amount |  | Amortization |  | Amount |  | Amount |  | Amortization |  | Amount |
Core deposit intangible |  | $ | 4,795 |  | $ | (4,795 | ) | $ | 0 |  | $ | 4,795 |  | $ | (4,660 | ) | $ | 135 |
Schedule of changes in the net carrying amount of core deposit intangible assets |
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Balance at beginning of period |  | $ | 0 |  | $ | 337 |  | $ | 135 |  | $ | 543 |
Additions |  | 0 |  | 0 |  | 0 |  | 0 |
Amortization |  | 0 |  | (101 | ) | (135 | ) | (307 | )
Balance at end of period |  | $ | 0 |  | $ | 236 |  | $ | 0 |  | $ | 236 |
Schedule of changes in mortgage servicing rights (MSRs) |
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Balance at beginning of period |  | $ | 2,873 |  | $ | 2,666 |  | $ | 2,549 |  | $ | 2,308 |
Re-measurement to fair value upon election to measure servicing rights at fair value |  | 0 |  | 0 |  | 0 |  | 742 |
Originated mortgage servicing rights |  | 83 |  | 231 |  | 444 |  | 559 |
Changes in fair value: |  |  |  |  |  |  |  |  |
Due to change in model inputs and assumptions (1) |  | 296 |  | 96 |  | 677 |  | 372 |
Other changes in fair value (2) |  | (173 | ) | (369 | ) | (591 | ) | (1,357 | )
Balance at end of period |  | $ | 3,079 |  | $ | 2,624 |  | $ | 3,079 |  | $ | 2,624 |
(1) The change in fair value resulting from changes in valuation inputs or assumptions used in the valuation model reflects the change in discount rates and prepayment speed assumptions primarily due to changes in interest rates. (2) Other changes in fair value reflect changes due to customer payments and passage of time. This also includes a one time adjustment of a $538,000 correction of an immaterial prior period error in 2012 due to changing from the straight-line amortization method to an accelerated amortization method of accounting for amortizing MSRs in prior years. If the aforementioned was corrected as of December 31, 2011, the balance at the beginning of the nine month period ending September 30, 2012 would have been $1.8 million.
Schedule of data and assumptions used in estimating the fair value of mortgage service rights |
|  | Nine Months Ended |
|  | September 30, |
|  | 2013 |  | 2012 |
Weighted-Average Constant Prepayment Rate |  | 10.94 | % | 16.32 | %
Weighted-Average Note Rate |  | 4.02 | % | 4.38 | %
Weighted-Average Discount Rate |  | 8.56 | % | 8.01 | %
Weighted-Average Expected Life (in years) |  | 5.70 |  | 3.90 |

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