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Repurchase Reserve Liability
 9 Months Ended
Sep. 30, 2017
Repurchase Reserve Liability [Abstract]  
Repurchase Reserve Liability
(14) Repurchase Reserve Liability

 

The Company’s repurchase reserve liability for estimated losses incurred on sold loans was $160,000 at both September 30, 2017 and December 31, 2016. 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 September 30, 2017, the Company was servicing 2,777 loans sold to the secondary market with a balance of approximately $288.7 million compared to 2,877 loans sold with a balance of approximately $294.4 million at December 31, 2016.

  

    Three Months Ended September 30,     Nine Months Ended September 30,  
(in thousands)   2017     2016     2017     2016  
Balance at beginning of year   $ 160     $ 160     $ 160     $ 160  
Provision for repurchase liability     0       2       0       2  
Reimbursement of expenses     0       (2 )     0       (2 )
Balance at end of year   $ 160     $ 160     $ 160     $ 160