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Receivable From FDIC For Loss Share Agreements | 6 Months Ended
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Jun. 30, 2011
Receivable From FDIC For Loss Share Agreements |
Receivable From FDIC For Loss Share Agreements | Note F Receivable from FDIC for Loss Share Agreements The following table provides changes in the receivable from the FDIC for the six month period ended June 30, 2011 and 2010:
|  | Three months ended June 30 |  |  | Six months ended June 30 |
|  | 2011 |  |  | 2010 |  |  | 2011 |  |  | 2010 |
Balance at beginning of period |  | $ | 624,322 |  |  | $ | 687,455 |  |  | $ | 623,261 |  |  | $ | 249,842 |
Additional receivable from acquisitions (1) |  |  | (4,985 | ) |  |  | 21,765 |  |  |  | 135,300 |  |  |  | 479,295 |
Accretion of discounts and premiums, net |  |  | 368 |  |  |  | 1,637 |  |  |  | 1,414 |  |  |  | 2,386 |
Receipt of payments from FDIC |  |  | (83,083 | ) |  |  | (29,918 | ) |  |  | (211,928 | ) |  |  | (52,422 | )
Post-acquisition adjustments |  |  | (14,115 | ) |  |  | 11,303 |  |  |  | (25,540 | ) |  |  | 13,141 |
Balance at June 30 |  | $ | 522,507 |  |  | $ | 692,242 |  |  | $ | 522,507 |  |  | $ | 692,242 |
| (1) | Adjustments related to acquisition date fair values shown herein in the three-month period ended June 30, 2011 are reflected in the Consolidated Statements of Income as an adjustment to the gain on acquisitions recorded in the first quarter of 2011.
The receivable from the FDIC for loss share agreements is measured separately from the related covered assets and is recorded at fair value. The fair value was estimated using projected cash flows related to the loss share agreements based on the expected reimbursements for losses and the applicable loss share percentages. Post-acquisition adjustments represent the net change in loss estimates related to covered loans and OREO as a result of changes in estimated fair values and the allowance for loan and lease losses related to covered loans. For loans covered by loss share agreements, subsequent decreases in the amount expected to be collected from the borrower or collateral liquidation result in a provision for loan and lease losses, an increase in the allowance for loan and lease losses, and a proportional adjustment to the receivable from the FDIC for the estimated amount to be reimbursed. Subsequent increases in the amount expected to be collected from the borrower or collateral liquidation result in the reversal of any previously recorded provision for loan and lease losses and related allowance for loan and lease losses and adjustments to the receivable from the FDIC, or prospective adjustment to the accretable yield and the related receivable from the FDIC if no provision for loan and lease losses had been recorded previously. Adjustments related to acquisition date fair values, made within one year after the closing date of the respective acquisition, are reflected in the acquisition gain.

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- Definition Represents the fair value of the receivable from the FDIC resulting from FDIC-assisted transactions. Fair value estimated using projected cash flows included in loss share agreements based on expected reimbursements for losses and applicable loss share percentages. Updated as changes in estimates made and payments received from the FDIC + Details
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- Definition Receivable from FDIC for Loss Share Agreements [Abstract] + Details
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