XML 60 R17.htm IDEA: XBRL DOCUMENT

FDIC Indemnification Asset

3 Months Ended

Mar. 31, 2014

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 41 of the Company’s 2013 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, 2014		December 31, 2013		March 31, 2013
Receivable related to loss claims incurred, not yet reimbursed	$	7,101		12,649		41,701
Receivable related to estimated future claims on loans		24,764		33,398		53,054
Receivable related to estimated future claims on foreclosed real estate		3,639		2,575		5,839
FDIC indemnification asset	$	35,504		48,622		100,594

The following presents a rollforward of the FDIC indemnification asset since December 31, 2013.

($ in thousands)
Balance at December 31, 2013	$	48,622
Increase related to unfavorable changes in loss estimates		1,195
Increase related to reimbursable expenses		1,104
Cash received		(9,384	)
Accretion of loan discount		(5,936	)
Other		(97	)
Balance at March 31, 2014	$	35,504