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Note 4: Acquired Loans, Loss Sharing Agreements and FDIC Indemnification Assets: Schedule of Vantus Bank FDIC Indemnification Asset (Tables)
12 Months Ended
Dec. 31, 2012
Tables/Schedules  
Schedule of Vantus Bank FDIC Indemnification Asset

 

 

December 31, 2012

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$103,910

 

$4,383

Noncredit premium/(discount), net of

 

 

 

activity since acquisition date

(104)

 

--

Reclassification from nonaccretable discount

 

 

 

to accretable discount due to change in

 

 

 

expected losses (net of accretion to date)

(5,429)

 

--

Original estimated fair value of assets, net of

 

 

 

activity since acquisition date

(95,483)

 

(3,214)

Expected loss remaining

2,894

 

1,169

Assumed loss sharing recovery percentage

78%

 

80%

Expected loss sharing value

2,270

 

935

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

4,343

 

--

Accretable discount on FDIC indemnification asset

(240)

 

--

 

 

 

 

FDIC indemnification asset

$6,373

 

$935

 

 

December 31, 2011

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$149,215

 

$3,410

Noncredit premium/(discount), net of

 

 

 

activity since acquisition date

(503)

 

--

Reclassification from nonaccretable discount

 

 

 

to accretable discount due to change in

 

 

 

expected losses (net of accretion to date)

(11,267)

 

--

Original estimated fair value of assets, net of

 

 

 

activity since acquisition date

(123,036)

 

(2,069)

Expected loss remaining

14,409

 

1,341

Assumed loss sharing recovery percentage

80%

 

80%

Expected loss sharing value

11,526

 

1,073

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

9,014

 

--

Accretable discount on FDIC indemnification asset

(1,946)

 

--

 

 

 

 

FDIC indemnification asset

$18,594

 

$1,073