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Note 7: FDIC Acquired Loans, Loss Sharing Agreements and FDIC Indemnification Assets: FDIC Indemnification Asset Roll Forward (Tables)
3 Months Ended
Mar. 31, 2016
TeamBank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$27,138

 

$—

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(1,153)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(25,815)

 

 

 

 

 

Expected loss remaining

170

 

Assumed loss sharing recovery percentage

91%

 

—%

 

 

 

 

Estimated loss sharing value

154

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

206

 

FDIC indemnification asset

$360

 

$—

 

 

December 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$29,115

 

$—

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(1,285)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(27,660)

 

 

 

 

 

Expected loss remaining

170

 

Assumed loss sharing recovery percentage

90%

 

0%

 

 

 

 

Estimated loss sharing value

154

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

241

 

FDIC indemnification asset

$395

 

$—

 

Vantus Bank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$30,319

 

$608

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(397)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(29,666)

 

(418)

 

 

 

 

Expected loss remaining

256

 

190

Assumed loss sharing recovery percentage

61%

 

—%

 

 

 

 

Estimated loss sharing value(1)

156

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

265

 

FDIC indemnification asset

$421

 

$—

 

(1)

Includes $152,000 impairment of indemnification asset for foreclosed assets.  Resolution of certain items related to commercial foreclosed assets did not occur prior to the expiration of the non-single-family loss sharing agreement for Vantus Bank on September 30, 2014. 

 

 

 

December 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$31,818

 

$608

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(470)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(31,092)

 

(418)

 

 

 

 

Expected loss remaining

256

 

190

Assumed loss sharing recovery percentage

61%

 

—%

 

 

 

 

Estimated loss sharing value

156

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

319

 

FDIC indemnification asset

$475

 

$—

 

Sun Security Bank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$40,724

 

$564

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(1,810)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(37,764)

 

(468)

 

 

 

 

Expected loss remaining

1,150

 

96

Assumed loss sharing recovery percentage

27%

 

80%

 

 

 

 

Estimated loss sharing value

316

 

77

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses(1)

850

 

Accretable discount on FDIC indemnification asset

(19)

 

(63)

FDIC indemnification asset

$1,147

 

$14

 

(1)

Includes $584,000 impairment of indemnification asset for loans related to the termination of the loss sharing agreements, which was completed in April 2016.

 

 

 

December 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$43,855

 

$557

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(2,171)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(40,349)

 

(461)

 

 

 

 

Expected loss remaining

1,335

 

96

Assumed loss sharing recovery percentage

34%

 

80%

 

 

 

 

Estimated loss sharing value

456

 

77

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

1,725

 

Accretable discount on FDIC indemnification asset

(36)

 

(63)

FDIC indemnification asset

$2,145

 

$14

 

InterBank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$183,242

 

$1,702

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

804

 

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(4,465)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(162,856)

 

(1,377)

 

 

 

 

Expected loss remaining

16,725

 

325

Assumed loss sharing recovery percentage

83%

 

80%

 

 

 

 

Estimated loss sharing value(1)

13,934

 

260

FDIC loss share clawback

2,037

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

3,572

 

Accretable discount on FDIC indemnification asset

(1,586)

 

(33)

FDIC indemnification asset

$17,957

 

$227

 

(1)

Includes $400,000 impairment of indemnification asset for loans

 

 

December 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$193,654

 

$2,110

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

902

 

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(4,901)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(170,308)

 

(1,392)

 

 

 

 

Expected loss remaining

19,347

 

718

Assumed loss sharing recovery percentage

83%

 

80%

 

 

 

 

Estimated loss sharing value

16,032

 

575

FDIC loss share clawback

2,360

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

3,920

 

Accretable discount on FDIC indemnification asset

(1,801)

 

(33)

FDIC indemnification asset

$20,511

 

$542

 

Valley Bank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis, net of activity since acquisition date

$102,480

 

$1,114

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

571

 

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(3,609)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(88,218)

 

(1,092)

 

 

 

 

Expected loss remaining

$11,224

 

$22

 

 

December 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis, net of activity since acquisition date

$109,791

 

$1,017

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

719

 

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

(3,213)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(93,436)

 

(995)

 

 

 

 

Expected loss remaining

$13,861

 

$22