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Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2013

Intangible Assets

Summary of core deposit intangible assets

		2013									2012
		Gross									Gross
		Carrying			Accumulated			Net			Carrying			Accumulated			Net
(in thousands)		Amount			Amortization			Amount			Amount			Amortization			Amount
Core deposit intangible		$	4,795		$	(4,795	)	$	—		$	4,795		$	(4,660	)	$	135

Schedule of changes in the net carrying amount of core deposit intangible assets

(in thousands)		2013			2012			2011
Balance at beginning of year		$	135		$	543		$	978
Additions		0			0			0
Amortization		(135		)	(408		)	(435		)
Balance at end of year		$	0		$	135		$	543

Schedule of changes in mortgage servicing rights (MSRs)

(in thousands)		2013			2012			2011
Balance at beginning of year		$	2,549		$	2,308		$	2,356
Re-measurement to fair value upon election to measure servicing rights at fair value		0			742			0
Originated mortgage servicing rights		512			830			760
Changes in fair value:
Due to change in model inputs and assumptions (1)		723			241			0
Other changes in fair value (2)		(748		)	(1,572		)	0
Amortization		0			0			(808		)
Balance at end of year		$	3,036		$	2,549		$	2,308

(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 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 period would have been $1.8 million.

Schedule of key data and assumptions used in estimating the fair value of the Company's mortgage servicing rights

		2013		2012
Weighted-Average Constant Prepayment Rate		9.48	%	18.60	%
Weighted-Average Note Rate		4.01	%	4.22	%
Weighted-Average Discount Rate		9.06	%	7.99	%
Weighted-Average Expected Life (in years)		6.10		3.90

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Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

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Tabular disclosure of all information related to the key inputs and assumptions used in measuring the fair value of assets obtained or liabilities incurred, as the result of a sale of financial assets, relating to the transferor's continuing involvement, if any, at the time of securitization, asset-backed financing arrangement, or similar transfer (including at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses, including expected static pool losses).

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Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

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Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair 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 (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

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