Mortgage Loans Held For Sale Mortgage Loans Held for Sale (Notes)

9 Months Ended

Sep. 30, 2014

Mortgage Loans Held for Sale [Line Items]

Mortgage Loans Held For Sale Disclosure [Text Block]

Loans Held For Sale

Mortgage loans held for sale are carried at their fair value. At September 30, 2014 and December 31, 2013, respectively, Park had approximately $6.6 million and $1.7 million in mortgage loans held for sale. The contractual balance was $6.5 million and $1.6 million at September 30, 2014 and December 31, 2013, respectively. The gain expected upon sale was $89,000 and $28,000 at September 30, 2014 and December 31, 2013, respectively. None of these loans were 90 days or more past due or on nonaccrual status as of September 30, 2014 or December 31, 2013.

During the three months ended September 30, 2014, Park transferred certain commercial loans held for investment, with a book balance of $22.0 million, to the loans held for sale portfolio. The transferred loans were recorded at the lower of cost or fair value, recording a charge-off in each instance where the fair value of an individual loan was deemed to be below the carrying cost at the time the loans were moved to the held for sale portfolio, with any gains deferred until the sale is finalized.