Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

At September 30, 2014 and December 31, 2013, the notional amount and fair value of IRLCs and forward contracts utilized by the Company were as follows: 

	September 30, 2014					December 31, 2013
	Notional Amount		Fair Value			Notional Amount		Fair Value
Asset Derivatives
Derivatives not designated as hedging instruments
IRLCs	$	30,518	$	389		$	20,752	$	79
Forward contracts	—		—			30,628		227
Liability Derivatives
Derivatives not designated as hedging instruments
Forward contracts	42,250		(21		)	—		—

Schedule of Derivative Instruments in Statements of Income Fair Value

Fair values of derivative financial instruments were estimated using changes in mortgage interest rates from the date the Company entered into the IRLC and the balance sheet date. Periodic changes in the fair value of the derivative financial instruments on the condensed consolidated statements of income for the three and nine month periods ended September 30, 2014 and 2013 were as follows:

	Amount of gain / (loss) recognized
	September 30, 2014						September 30, 2013
	Three Months Ended			Nine Months   Ended			Three Months Ended			Nine Months   Ended
Asset Derivatives
Derivatives not designated as hedging instruments
IRLCs	$	(58	)	$	310		$	934		$	856
Liability Derivatives
Derivatives not designated as hedging instruments
Forward contracts	289			(248		)	(2,046		)	(837		)