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

9 Months Ended

Sep. 30, 2015

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, 2015 and December 31, 2014, respectively, Park had approximately $11.4 million and $5.3 million in mortgage loans held for sale. These amounts are included in loans on the consolidated condensed balance sheets and in residential real estate loan segments in Note 3 and Note 4. The contractual balance was $11.2 million and $5.2 million at September 30, 2015 and December 31, 2014, respectively. The gain expected upon sale was $172,000 and $80,000 at September 30, 2015 and December 31, 2014, respectively. None of these loans were 90 days or more past due or on nonaccrual status as of September 30, 2015 or December 31, 2014.

During the nine-month period ended September 30, 2015, Park transferred to held for sale and sold certain commercial loans previously held for investment, with a book balance of $144,000, and recognized a gain of $756,000. There were no commercial loans held for sale or sold during the three months ended September 30, 2015. There were $22.0 million of commercial loans held for sale at September 30, 2014. They were subsequently sold in the fourth quarter of 2014 for a net gain on sale of $1.9 million.