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Mortgage Banking Activities | 6 Months Ended
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Jun. 30, 2016
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 11 for further information on derivative financial instruments. During the three months ended June 30, 2016 and 2015, the Company originated mortgage loans held-for-sale of $151.1 million and $143.8 million, respectively, and sold $139.6 million and $143.3 million of mortgage loans, respectively, into the secondary market. During the six months ended June 30, 2016 and 2015, the Company originated mortgage loans held-for-sale of $259.1 million and $277.9 million, respectively, and sold $256.6 million and $287.1 million of mortgage loans, respectively, into the secondary market. The following table provides the components of income from mortgage banking activities for the three and six months ended June 30, 2016 and 2015.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Gain on loans sold | $ | 2,896 |  |  | $ | 2,531 |  |  | $ | 4,496 |  |  | $ | 4,845 |
Gain (loss) resulting from the change in fair value of loans held-for-sale | 632 |  |  | (669 | ) |  | 986 |  |  | (492 | )
Gain (loss) resulting from the change in fair value of derivatives | (233 | ) |  | 352 |  |  | 67 |  |  | 747 |
Net revenue from mortgage banking activities | $ | 3,295 |  |  | $ | 2,214 |  |  | $ | 5,549 |  |  | $ | 5,100 |

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- Definition The entire disclosure for mortgage loans on real estate, this includes the supplemental information pertaining to each mortgage loan receivable that equals or exceeds three percent of the carrying amount of mortgages. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 948 -SubTopic 310 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -URI http://asc.fasb.org/extlink&oid=6589523&loc=d3e617274-123014 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04.(c) Schedule IV) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 + Details
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