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FDIC Indemnification Asset | 12 Months Ended
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Dec. 31, 2011
Fdic Indemnification Asset |
FDIC Indemnification Asset | Note 6. FDIC Indemnification Asset As discussed in Note 1(i), 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. At December 31, 2011 and 2010, the FDIC indemnification asset was comprised of the following components:
($ in thousands) |  |  | 2011 |  |  |  | 2010 |
Receivable related to claims submitted, not yet received |  | $ | 13,377 |  |  |  | 30,201 |
Receivable related to estimated future claims on loans |  |  | 90,275 |  |  |  | 86,966 |
Receivable related to estimated future claims on other real estate owned |  |  | 18,025 |  |  |  | 6,552 |
FDIC indemnification asset |  | $ | 121,677 |  |  |  | 123,719 |
The following presents a rollforward of the FDIC indemnification asset since the date of the Cooperative Bank acquisition on June 19, 2009.
($ in thousands) |  |  |  |
Balance at June 19, 2009 |  | $ | 185,112 |
Decrease related to favorable change in loss estimates |  |  | (1,516 | )
Increase related to reimbursable expenses |  |  | 1,300 |
Cash received |  |  | (40,500 | )
Accretion of loan discount |  |  | (1,175 | )
Balance at December 31, 2009 |  |  | 143,221 |
Increase related to unfavorable change in loss estimates |  |  | 30,419 |
Increase related to reimbursable expenses |  |  | 2,900 |
Cash received |  |  | (46,721 | )
Accretion of loan discount |  |  | (6,100 | )
Balance at December 31, 2010 |  | $ | 123,719 |
Increase related to acquisition of The Bank of Asheville |  |  | 42,218 |
Increase related to unfavorable change in loss estimates |  |  | 29,814 |
Increase related to reimbursable expenses |  |  | 5,725 |
Cash received |  |  | (69,339 | )
Accretion of loan discount |  |  | (9,278 | )
Other |  |  | (1,182 | )
Balance at December 31, 2011 |  | $ | 121,677 |

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