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Mortgage Banking Activities (Tables)
 9 Months Ended
Sep. 30, 2019
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 
 
September 30, 2019
 
December 31, 2018
 
 
Unpaid Principal Balance/
Notional
 
Fair Value
 
Unpaid Principal Balance/
Notional
 
Fair Value
Residential mortgage loans held for sale
 
$
269,610

 
$
272,489

 
$
145,057

 
$
146,971

Residential mortgage loan commitments
 
379,377

 
10,111

 
160,848

 
5,378

Forward sales contracts
 
649,161

 
(113
)
 
274,000

 
(3,128
)
 
 
 

 
$
282,487

 
 

 
$
149,221
Mortgage Banking Revenue [Table Text Block]

Mortgage banking revenue was as follows (in thousands):
 
 
Three Months Ended
September 30,
 
Nine Months Ended September 30,
 
 
2019
 
2018
 
2019
 
2018
Production revenue:
 
 
 
 
 
 
 
 
Net realized gains on sale of mortgage loans
 
$
8,971

 
$
9,063

 
$
24,838

 
$
28,699

Net change in unrealized gain on mortgage loans held for sale
 
97

 
(2,135
)
 
965

 
(2,457
)
Net change in the fair value of mortgage loan commitments
 
514

 
(2,446
)
 
4,733

 
(1,496
)
Net change in the fair value of forward sales contracts
 
4,232

 
2,768

 
3,015

 
1,871

Total production revenue
 
13,814

 
7,250

 
33,551

 
26,617

Servicing revenue
 
16,366

 
16,286

 
48,594

 
49,290

Total mortgage banking revenue
 
$
30,180

 
$
23,536

 
$
82,145

 
$
75,907
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 
 
September 30, 2019
 
December 31, 2018
Number of residential mortgage loans serviced for others
 
128,463

 
132,463

Outstanding principal balance of residential mortgage loans serviced for others
 
$
21,046,136

 
$
21,658,335

Weighted average interest rate
 
3.99
%
 
3.99
%
Remaining term (in months)
 
290

 
293
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
 
 
Three Months Ended
September 30,
 
Nine Months Ended September 30,
 
 
2019
 
2018
 
2019
 
2018
Beginning Balance
 
$
208,308

 
$
278,719

 
$
259,254

 
$
252,867

Additions, net
 
9,882

 
8,968

 
24,821

 
28,688

Change in fair value due to principal payments
 
(11,936
)
 
(8,986
)
 
(27,600
)
 
(25,783
)
Change in fair value due to market assumption changes
 
(12,593
)
 
5,972

 
(62,814
)
 
28,901

Ending Balance
 
$
193,661

 
$
284,673

 
$
193,661

 
$
284,673
Assumptions to Value Mortgage Servicing Rights [Table Text Block]

Mortgage servicing rights are not traded in active markets. Fair value is determined by discounting the projected net cash flows. Significant market assumptions used to determine fair value based on significant unobservable inputs were as follows:
 
 
September 30, 2019
 
December 31, 2018
Discount rate – risk-free rate plus a market premium
 
9.82%
 
9.90%
Prepayment rate - based upon loan interest rate, original term and loan type
 
8.31% - 17.22%
 
8.05% - 15.74%
Loan servicing costs – annually per loan based upon loan type:
 
 
 
 
Performing loans
 
$68 - $94
 
$67 - $93
Delinquent loans
 
$150 - $500
 
$150 - $500
Loans in foreclosure
 
$1,000 - $4,000
 
$1,000 - $4,000
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
 
1.51%
 
2.57%
Primary/secondary mortgage rate spread
 
102 bps
 
105 bps