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FDIC Indemnification Asset

3 Months Ended

Mar. 31, 2012

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 38 of the Company’s 2011 Annual Report on 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)	March 31, 2012		December 31, 2011		March 31, 2011
Receivable related to claims submitted, not yet received	$	8,828		13,377		11,951
Receivable related to estimated future claims on loans		85,859		90,275		117,614
Receivable related to estimated future claims on other real estate owned		18,718		18,025		11,372
FDIC indemnification asset	$	113,405		121,677		140,937

The following presents a rollforward of the FDIC indemnification asset since December 31, 2011.

($ in thousands)
Balance at December 31, 2011	$	121,677
Increase related to unfavorable changes in loss estimates		6,151
Increase related to reimbursable expenses		1,402
Cash received		(13,247	)
Accretion of loan discount		(2,578	)
Other		—
Balance at March 31, 2012	$	113,405