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FDIC Indemnification Asset
 6 Months Ended
Jun. 30, 2012
Fdic Indemnification Asset  
FDIC Indemnification Asset

 

Note 9 - 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)   June 30,
2012		     December 31,
2011		     June 30,
2011		  
Receivable related to claims submitted, not yet received   $ 18,574       13,377       27,668  
Receivable related to estimated future claims on loans     79,308       90,275       100,953  
Receivable related to estimated future claims on other real estate owned     19,020       18,025       14,273  
    FDIC indemnification asset   $ 116,902       121,677       142,894  
                         

 

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     12,298  
Increase related to reimbursable expenses     3,183  
Cash received     (15,286 )
Accretion of loan discount     (4,694 )
Other     (276 )
Balance at June 30, 2012   $ 116,902