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Mortgage Banking Activities (Tables)
9 Months Ended
Sep. 30, 2021
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 September 30, 2021December 31, 2020
 Unpaid Principal Balance/
Notional
Fair ValueUnpaid Principal Balance/
Notional
Fair Value
Residential mortgage loans held for sale$163,924 $166,670 $227,161 $236,444 
Residential mortgage loan commitments239,066 8,249 380,637 20,435 
Forward sales contracts355,961 1,894 549,414 (4,563)
  $176,813  $252,316 
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 Three Months Ended
September 30,
Nine Months Ended September 30,
 2021202020212020
Production revenue:  
Net realized gains on sale of mortgage loans$16,177 $36,300 $62,960 $70,126 
Net change in unrealized gain (loss) on mortgage loans held for sale(1,365)(1,672)(6,537)6,913 
Net change in the fair value of mortgage loan commitments(1,953)1,593 (12,186)23,991 
Net change in the fair value of forward sales contracts2,544 2,210 6,457 (1,844)
Total production revenue15,403 38,431 50,694 99,186 
Servicing revenue10,883 13,528 33,924 43,876 
Total mortgage banking revenue$26,286 $51,959 $84,618 $143,062 
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 September 30, 2021December 31, 2020
Number of residential mortgage loans serviced for others97,425 106,201 
Outstanding principal balance of residential mortgage loans serviced for others$14,907,736 $16,228,449 
Weighted average interest rate3.68 %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 September 30,Nine Months Ended September 30,
2021202020212020
Beginning Balance$117,629 $97,971 $101,172 $201,886 
Additions11,540 7,424 29,307 21,330 
Disposals —  (10,801)
Change in fair value due to principal payments(8,806)(11,192)(30,949)(28,971)
Change in fair value due to market assumption changes12,945 3,441 33,778 (85,800)
Ending Balance$133,308 $97,644 $133,308 $97,644 
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, 2021December 31, 2020
Discount rate – risk-free rate plus a market premium8.46%9.14%
Prepayment rate - based upon loan interest rate, original term and loan type13.57%19.73%
Loan servicing costs – annually per loan based upon loan type:
Performing loans
$69 - $85
$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
1.08%0.43%
Primary/secondary mortgage rate spread
105 bps105 bps
Delinquency rate
2.36%3.54%