(14)	Repurchase Reserve Liability

The Company’s repurchase reserve liability for estimated losses incurred on sold loans was $160,000 at both March 31, 2016 and December 31, 2015. 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 March 31, 2015, the Company accrued $39,000 for one repurchase loss that was remitted in April 2015. At March 31, 2016, the Company was servicing 2,986 loans sold to the secondary market with a balance of approximately $308.1 million compared to 3,024 loans sold with a balance of approximately $312.1 million at December 31, 2015.

	Three Months Ended March 31,
(in thousands)	2016		2015
Balance at beginning of year	$	160	$	160
Provision for repurchase liability		0		40
Reimbursement of expenses		0		(40	)
Balance at end of year	$	160	$	160