Note 10 – FDIC Indemnification Asset

The FDIC indemnification asset is the estimated amount that the Company will receive from the FDIC under loss share agreements associated with two FDIC-assisted failed bank acquisitions. See page 40 of the Company's 2010 Form 10-K for a detailed explanation of this asset.

The FDIC indemnification asset was comprised of the following components as of the dates shown:

($ in thousands)	June 30, 2011		December 31, 2010		June 30, 2010
Receivable related to claims submitted, not yet received	$	27,668		30,201		26,550
Receivable related to future claims on loans		100,953		86,966		88,741
Receivable related to future claims on other real estate owned		14,273		6,552		2,781
FDIC indemnification asset	$	142,894		123,719		118,072

The following presents a rollforward of the FDIC indemnification asset since December 31, 2010.

($ in thousands)

Balance at December 31, 2010	$	123,719
Increase related to Bank of Asheville acquisition		42,218
Increase related to unfavorable change in loss estimates		11,694
Increase related to reimbursable expenses		2,746
Cash received		(32,468	)
Accretion of loan discount		(5,223	)
Other		208
Balance at June 30, 2011	$	142,894