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Mortgage Banking Activities (Tables)
6 Months Ended
Jun. 30, 2021
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 June 30, 2021December 31, 2020
 Unpaid Principal Balance/
Notional
Fair ValueUnpaid Principal Balance/
Notional
Fair Value
Residential mortgage loans held for sale$187,179 $191,290 $227,161 $236,444 
Residential mortgage loan commitments276,154 10,202 380,637 20,435 
Forward sales contracts427,566 (650)549,414 (4,563)
  $200,842  $252,316 
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2021202020212020
Production revenue:  
Net realized gains on sale of mortgage loans$20,783 $24,109 $46,783 $33,826 
Net change in unrealized gain (loss) on mortgage loans held for sale1,783 5,024 (5,172)8,585 
Net change in the fair value of mortgage loan commitments(1,253)3,381 (10,233)22,398 
Net change in the fair value of forward sales contracts(11,309)6,671 3,913 (4,054)
Total production revenue10,004 39,185 35,291 60,755 
Servicing revenue11,215 14,751 23,041 30,348 
Total mortgage banking revenue$21,219 $53,936 $58,332 $91,103 
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 June 30, 2021December 31, 2020
Number of residential mortgage loans serviced for others98,287 106,201 
Outstanding principal balance of residential mortgage loans serviced for others$14,887,909 $16,228,449 
Weighted average interest rate3.73 %3.84 %
Remaining term (in months)278280
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Beginning Balance$132,915 $110,828 $101,172 $201,886 
Additions7,937 8,465 17,767 13,906 
Disposals (10,801) (10,801)
Change in fair value due to principal payments(10,182)(9,760)(22,143)(17,779)
Change in fair value due to market assumption changes(13,041)(761)20,833 (89,241)
Ending Balance$117,629 $97,971 $117,629 $97,971 
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:
 June 30, 2021December 31, 2020
Discount rate – risk-free rate plus a market premium8.87%9.14%
Prepayment rate - based upon loan interest rate, original term and loan type
7.81% - 19.08%
9.41% - 21.87%
Loan servicing costs – annually per loan based upon loan type:
Performing loans
$69 - $94
$69 - $94
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
0.95%0.43%
Primary/secondary mortgage rate spread
105 bps105 bps
Delinquency rate
2.67%3.54%