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FDIC Shared-Loss Payable | 9 Months Ended
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Sep. 30, 2020
FDIC Shared-Loss Receivable [Abstract] |
FDIC Shared-Loss Receivable | FDIC SHARED-LOSS PAYABLE At September 30, 2020, shared-loss protection remains for single family residential loans acquired in the amount o f $36.2 million. The shared-loss agreement for two of the FDIC-assisted transactions include a provision related to a payment that may be owed to the FDIC at the termination of the agreement if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition (the “clawback liability”). BancShares issued a payment to the FDIC in the first quarter of 2020 for $99.5 million related to one of the transactions. The remaining clawback liability payment date is March 2021. The following table provides changes in the FDIC shared-loss payable since December 31, 2019:
(Dollars in thousands) | Total
Balance at December 31, 2019 | $ | 112,395 |
Accretion | 2,386 |
Payment made to the FDIC to settle shared-loss agreement | (99,468) |
Balance at September 30, 2020 | $ | 15,313 |

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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 + References No definition available. + Details
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- Definition FDIC Shared-Loss Receivable [Abstract] + References No definition available. + Details
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