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Note 8: Loss Sharing Agreements and FDIC Indemnification Assets: Schedule of Vantus Bank FDIC Indemnification Asset (Tables)
3 Months Ended
Mar. 31, 2013
Tables/Schedules  
Schedule of Vantus Bank FDIC Indemnification Asset

 

 

March 31, 2013

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$92,384

 

$4,227

Non-credit premium/(discount), net of activity since acquisition date

(57)

 

--

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(3,887)

 

--

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(87,141)

 

(3,024)

 

 

 

 

Expected loss remaining

1,299

 

1,203

Assumed loss sharing recovery percentage

76%

 

80%

 

 

 

 

Estimated loss sharing value

993

 

962

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

3,100

 

--

Accretable discount on FDIC indemnification asset

(178)

 

--

FDIC indemnification asset

$3,915

 

$962

 

 

December 31, 2012

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$103,910

 

$4,383

Non-credit 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%

 

 

 

 

Estimated 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