Loans Held for Sale
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Held for Sale | LOANS HELD FOR SALE The composition of loans held for sale was as follows:
Effective September 30, 2014, Customers Bank transferred $164.7 million of multi-family loans from loans receivable to held for sale because the Bank was actively marketing these loans and no longer had the intent to retain these loans in its portfolio. Effective December 31, 2014, Customers Bank transferred 18.8 million of these loans back to loans receivable because the Bank no longer has the intent to sell the loans. Customers Bank transfered these loans at their amortized cost, which was lower than the estimated fair value at the time of transfer. |