Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2011

Summary of Changes in Mortgage Servicing Rights

The following table summarizes the changes in MSRs, which are included in other assets on the consolidated balance sheets:



	2011			2010
	(in thousands)
Amortized cost:
Balance at beginning of year	$	30,700		$	23,498
Originations of mortgage servicing rights	9,884			12,240
Amortization expense	(5,918		)	(5,038		)
Balance at end of year	$	34,666		$	30,700
Valuation allowance:
Balance at beginning of year	$	(1,550	)	$	(1,000	)
Additions	—			(550		)
Balance at end of year	$	(1,550	)	$	(1,550	)
Net MSRs at end of year	$	33,116		$	29,150

Schedule Of Servicing Assets Expected Amortization Expense

Estimated MSR amortization expense for the next five years, based on balances as of December 31, 2011 and the expected remaining lives of the underlying loans, follows (in thousands):



Year
2012	$	7,356
2013	6,671
2014	5,904
2015	5,051
2016	4,103

- Definition

Tabular disclosure of the activity in the balance of servicing assets subsequently measured at amortized value (including a description of where changes in carrying value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (through purchases of servicing assets and servicing assets that result from transfers of financial assets), disposals, amortization, application of valuation allowances, other-than-temporary impairments, and other changes that affect the balance along with a description of those changes.

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