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Loan Servicing (Tables)
 12 Months Ended
Dec. 31, 2017
Mortgage Loan  
Servicing Assets at Fair Value [Line Items]  
Servicing Asset at Amortized Cost
The unpaid principal balance of mortgage loans serviced for others, as of December 31, 2017 and 2016, is listed below:
December 31
2017

2016
(in thousands)
 
 
 
Mortgage loans sold with servicing retained
$
3,256,548

 
$
1,800,002




The following table summarizes activity relating to mortgage loans sold with servicing retained:
Year Ended December 31
2017
 
2016
 
2015
(in thousands)
 
 
 
 
 
Mortgage loans sold with servicing retained
$
1,769,129

 
$
672,536

 
$
431,617

Pretax gains resulting from above loan sales (1)
21,683

 
12,519

 
10,681

Mortgage servicing fees (1)
7,509

 
3,803

 
3,056

(1) Recorded in mortgage banking operations.
Following is a summary of the MSR activity:
Year Ended December 31
2017
 
2016
 
2015
(in thousands)
 
 
 
 
 
Balance at beginning of period
$
13,521

 
$
8,921

 
$
6,859

Fair value of MSRs acquired
8,553

 
—

 
—

Additions
10,830

 
7,148

 
3,370

Payoffs and curtailments
(1,491
)
 
(780
)
 
(694
)
Amortization
(2,360
)
 
(1,768
)
 
(614
)
Balance at end of period
$
29,053

 
$
13,521

 
$
8,921

Fair value, beginning of period
$
17,546

 
$
11,503

 
$
8,684

Fair value, end of period
32,419

 
17,546

 
11,503
Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement
Following is a summary of the sensitivity of the fair value of MSRs to changes in key assumptions: 
December 31
2017
 
2016
(dollars in thousands)
 
 
 
Weighted average life (months)
80.4

 
79.0

Constant prepayment rate (annualized)
9.9
%
 
9.9
%
Discount rate
9.9
%
 
9.8
%
Effect on fair value due to change in interest rates:
 
 
 
+0.25%
$
1,737

 
$
692

+0.50%
3,220

 
1,288

-0.25%
(1,937
)
 
(789
)
-0.50%
(4,007
)
 
(1,680
)
Small Business Administration Loans  
Servicing Assets at Fair Value [Line Items]  
Servicing Asset at Amortized Cost
The unpaid principal balance of SBA-guaranteed loans serviced for investors, as of December 31, 2017, was as follows:
December 31
2017
(in thousands)
 
SBA loans sold to investors with servicing retained
$
305,977

The following table summarizes activity relating to SBA loans sold with servicing retained:
Year Ended December 31
2017
(in thousands)
 
SBA loans sold with servicing retained
$
53,938

Pretax gains resulting from above loan sales (1)
2,247

SBA servicing fees (1)
2,195

(1) Recorded in non-interest income.
Following is a summary of the activity in SBA servicing assets: 
Year Ended December 31
2017
(in thousands)
 
Balance at beginning of period
$
—

Fair value of servicing rights acquired
5,399

Additions
959

Impairment (charge) / recovery
(281
)
Amortization
(1,019
)
Balance at end of period
$
5,058

Fair value, beginning of period
$
—

Fair value, end of period
5,058
Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement
Following is a summary of key assumptions and the sensitivity of the SBA loan servicing rights to changes in these assumptions:
December 31
2017
 
 
 
Decline in fair value due to
(dollars in thousands)
Actual
 
10% adverse change
 
20% adverse change
 
1% adverse change
 
2% adverse change
Weighted-average life (months)
63.5

 
 
 
 
 
 
 
 
Constant prepayment rate
9.29
%
 
$
(145
)
 
$
(284
)
 
$
—

 
$
—

Discount rate
14.87

 
—

 
—

 
(147
)
 
(286
)