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Repurchase Reserve Liability
 12 Months Ended
Dec. 31, 2015
Repurchase Reserve Liability [Abstract]  
Repurchase Reserve Liability
(17) Repurchase Reserve Liability

 

The Company’s repurchase reserve liability for estimated losses incurred on sold loans was $160,000 at both December 31, 2015 and 2014. This liability represents management’s estimate of the potential repurchase or make-whole liability for residential mortgage loans originated for sale that may arise from representation and warranty claims that could relate to a variety of issues, including but not limited to, misrepresentation of facts, appraisal issues, or program requirements that may not meet investor guidelines. At December 31, 2015, the Company was servicing 3,024 loans sold to the secondary market with a balance of approximately $312.1 million compared to 3,057 loans sold with a balance of approximately $313.9 million at December 31, 2014.
(in thousands)
 ​ ​
2015
 ​ ​
2014
 ​ ​
2013
 ​
Balance at beginning of year
 ​ ​ ​ $ 160 ​ ​ ​ ​ $ 160 ​ ​ ​ ​ $ 0 ​ ​
Provision for repurchase liability ​ ​ ​ ​ 40 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 279 ​ ​
Reimbursement of expenses ​ ​ ​ ​ (40) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ (119) ​ ​
Balance at end of year
 ​ ​ ​ $ 160 ​ ​ ​ ​ $ 160 ​ ​ ​ ​ $ 160 ​ ​
​