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Mortgage Banking Activities
 12 Months Ended
Dec. 31, 2015
Mortgage Banking [Abstract]  
Mortgage Banking Activities
Mortgage Banking Activities

The Company’s residential real estate lending business originates mortgage loans for customers and sells a majority of the originated loans into the secondary market. The Company hedges its mortgage banking pipeline by entering into forward contracts for the future delivery of mortgage loans to third party investors and entering into interest rate lock commitments with potential borrowers to fund specific mortgage loans that will be sold into the secondary market. To facilitate the hedging of the loans, the Company has elected the fair value option for loans originated and intended for sale in the secondary market under mandatory pricing agreements. Changes in the fair value of loans held-for-sale, interest rate lock commitments and forward contracts are recorded in the mortgage banking activities line item within noninterest income.  Refer to Note 17 for further information on derivative financial instruments. 

During the years ended December 31, 2015, 2014, and 2013, the Company originated mortgage loans held-for-sale of $502.7 million, $409.7 million, and $741.1 million, respectively, and sold $509.4 million, $409.5 million, and $784.1 million of mortgage loans, respectively, into the secondary market.

The components of income from mortgage banking activities consist of the following:
 
Year Ended December 31,
 
2015
 
2014
 
2013
Gain on loans sold
$
8,845

 
$
5,048

 
$
8,379

(Loss) gain resulting from the change in fair value of loans held-for-sale
(341
)
 
751

 
(4
)
Gain (loss) resulting from the change in fair value of derivatives
496

 
(190
)
 
307

Net revenue from mortgage banking activities
$
9,000

 
$
5,609

 
$
8,682