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FDIC Indemnification Asset

9 Months Ended

Sep. 30, 2016

Fdic Indemnification Asset [Abstract]

Note 10 – FDIC Indemnification Asset

As discussed previously in Note 8 – Loans and Asset Quality Information, the Company terminated all loss share agreements with the FDIC effective July 1, 2016. As a result, the remaining balance in the FDIC Indemnification Asset, which represented the estimated amount to be received from the FDIC under the loss share agreements, was written off as indemnification asset expense as of the termination date.

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

($ in thousands)	September 30, 2016		December 31, 2015			September 30, 2015
Receivable (payable) related to loss claims incurred (recoveries), not yet received (paid), net	$	—		(633	)		(2,427	)
Receivable related to estimated future claims on loans		—		8,675			9,522
Receivable related to estimated future claims on foreclosed real estate		—		397			554
FDIC indemnification asset	$	—		8,439			7,649

The following presents a rollforward of the FDIC indemnification asset since December 31, 2015 through agreement termination July 1, 2016.

($ in thousands)
Balance at December 31, 2015	$	8,439
Decrease related to favorable changes in loss estimates		(2,246	)
Increase related to reimbursable expenses		205
Cash paid (received)		1,554
Amortization associated with accretion of loan discount		(2,005	)
Other		(236	)
Write off of asset balance upon termination of FDIC loss share agreements effective July 1, 2016		(5,711	)
Balance at September 30, 2016	$	—