XML 122 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Tables)
 6 Months Ended
Jun. 30, 2013
Other Intangible Assets and Mortgage Servicing Rights [Abstract]  
Schedule of Changes in Intangible Assets
The following table summarizes the changes in the Company’s core deposit intangibles and other intangibles for the six months ended June 30, 2013 and the year ended December 31, 2012 (in thousands):
 
Core Deposit Intangibles
 
Other
 
Total
Balance, December 31, 2012
$
4,230

 
$
—

 
$
4,230

Amortization
(983
)
 
—

 
(983
)
Balance, June 30, 2013
$
3,247

 
$
—

 
$
3,247


 
Core Deposit Intangibles
 
Other
 
Total
Balance, December 31, 2011
$
6,322

 
$
9

 
$
6,331

Amortization
(2,092
)
 
(9
)
 
(2,101
)
Balance, December 31, 2012
$
4,230

 
$
—

 
$
4,230
Schedule of Estimated Annual Amortization Expense
The following table presents the future estimated annual amortization expense with respect to intangibles (in thousands):
Year Ended
 
Core Deposit
 Intangibles
December 31, 2013
 
$
1,908

December 31, 2014
 
1,724

December 31, 2015
 
598

 
 
$
4,230
Schedule of Servicing Assets at Amortized Value
An analysis of our mortgage servicing rights for the three and six months ended June 30, 2013 and 2012 is presented below (in thousands):
 
Three Months Ended
June 30
 
Six Months Ended
June 30
 
2013

 
2012

 
2013

 
2012

Balance, beginning of the period
$
6,335

 
$
5,870

 
$
6,244

 
$
5,584

Amounts capitalized
807

 
940

 
1,583

 
1,853

Amortization (1)
(706
)
 
(608
)
 
(1,391
)
 
(1,235
)
Valuation adjustments in the period
600

 
—

 
600

 
—

Balance, end of the period (2)
$
7,036

 
$
6,202

 
$
7,036

 
$
6,202


(1) 
Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income and any unamortized balance is fully written off if the loan repays in full.
(2) 
Balances as of June 30, 2013 and 2012 are net of valuation allowances of $700,000 and $900,000, respectively.