Mortgage Servicing Rights (Tables)

9 Months Ended

Sep. 30, 2015

Mortgage Servicing Rights [Abstract]

Schedule of Mortgage Servicing Rights at Carrying Values

Mortgage servicing rights had the following carrying values as of September 30, 2015 (in thousands):

	2015
	Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount
Mortgage servicing rights		$	9,038		$	(121	)		$	8,917

Changes in Mortgage Servicing Right

The following table provides a detail of changes in the mortgage servicing right from September 1, 2015, the closing date of the Magna Merger, to September 30, 2015:

	Residential			Commercial		Total
Beginning balance acquired in Magna Merger	$	8,819		$	154	$	8,973
Add:  Originated MSRs		65			-		65
Less: Amortization		(121	)		-		(121	)
Ending balance	$	8,763		$	154	$	8,917

Summary of Net Servicing Fee Revenues

The following table summarizes the net servicing fee revenues for the three month period ended September 30, 2015 (in thousands).

	Residential		Commercial		Total
Gross servicing fees	$	237	$	45	$	282
Late charges and other ancillary revenue		45		-		45
Gross servicing revenue	$	282	$	45	$	327
Servicing asset amortization	$	121	$	-	$	121
Guaranty fees and loan pay-off interest		1		1		2
Other servicing expenses		28		-		28
Gross servicing expenses	$	150	$	1	$	151
Net servicing fee income	$	132	$	44	$	176