Mortgage Servicing Rights (Tables)
 3 Months Ended
Mar. 31, 2014
Mortgage Servicing Rights Disclosure [Abstract]  
Schedule of change in carrying value of entity's mortgage servicing rights accounted for under the fair value measurement method
For the three months ended March 31, 2014 and 2013, the change in the carrying value of the Company’s mortgage servicing rights accounted for under the fair value measurement method was as follows:
 
Three Months Ended
March 31,
(dollars in thousands)
2014

 
2013

Balance at Beginning of Period
$
3,826

 
$
4,761

Change in Fair Value:
 

 
 

Due to Change in Valuation Assumptions 1
(349
)
 
34

Due to Payoffs
(96
)
 
(359
)
Total Changes in Fair Value of Mortgage Servicing Rights
(445
)
 
(325
)
Balance at End of Period
$
3,381

 
$
4,436

1 
Principally represents changes in discount rates and loan repayment rate assumptions, mostly due to changes in interest rates.
Schedule of change in carrying value of entity's mortgage servicing rights including fair value of mortgage servicing rights accounted for under the amortization method
For the three months ended March 31, 2014 and 2013, the change in the carrying value of the Company’s mortgage servicing rights accounted for under the amortization method was as follows:
 
Three Months Ended
March 31,
(dollars in thousands)
2014

 
2013

Balance at Beginning of Period
$
24,297

 
$
20,479

Servicing Rights that Resulted From Asset Transfers
354

 
2,250

Amortization
(654
)
 
(625
)
Balance at End of Period
$
23,997

 
$
22,104

 
 
 
 
Fair Value of Mortgage Servicing Rights Accounted for
 Under the Amortization Method
 

 
 

Beginning of Period
$
30,100

 
$
23,143

End of Period
$
28,303

 
$
26,564
Schedule of key data and assumptions used in estimating the fair value of entity's mortgage servicing rights
The key data and assumptions used in estimating the fair value of the Company’s mortgage servicing rights as of March 31, 2014 and December 31, 2013 were as follows:
 
March 31,
2014

 
December 31, 2013

Weighted-Average Constant Prepayment Rate 1
9.03
%
 
7.98
%
Weighted-Average Life (in years)
7.49

 
8.04

Weighted-Average Note Rate
4.30
%
 
4.31
%
Weighted-Average Discount Rate 2
9.75
%
 
9.70
%
1 
Represents annualized loan repayment rate assumption.
2 
Derived from multiple interest rate scenarios that incorporate a spread to the London Interbank Offered Rate swap curve and market volatilities.
Schedule of sensitivity analysis of the entity's fair value of mortgage servicing rights to changes in certain key assumptions
A sensitivity analysis of the Company’s fair value of mortgage servicing rights to changes in certain key assumptions as of March 31, 2014 and December 31, 2013 is presented in the following table.
(dollars in thousands)
March 31,
2014

 
December 31,
2013

Constant Prepayment Rate
 

 
 

Decrease in fair value from 25 basis points (“bps”) adverse change
$
(351
)
 
$
(357
)
Decrease in fair value from 50 bps adverse change
(690
)
 
(746
)
Discount Rate
 

 
 

Decrease in fair value from 25 bps adverse change
(346
)
 
(432
)
Decrease in fair value from 50 bps adverse change
(685
)
 
(876
)