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Note 7: FDIC Acquired Loans, Loss Sharing Agreements and FDIC Indemnification Assets: FDIC Indemnification Asset Roll Forward (Tables)
9 Months Ended
Sep. 30, 2016
TeamBank  
FDIC Indemnification Asset Roll Forward

 

 

September 30, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

 

(In Thousands)

 

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$       21,277

 

$              14

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

            (936)

 

                —

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

       (20,172)

 

              (14)

 

 

 

 

Expected loss remaining

$           169

 

$              —

 

 

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

 

 

September 30, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

 

(In Thousands)

 

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$       25,322

 

$            248

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

            (289)

 

                —

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

       (24,792)

 

              (58)

 

 

 

 

Expected loss remaining

$           241

 

$           190

 

 

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%

 

0%

 

                  

 

 

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

 

 

September 30, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

 

(In Thousands)

 

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$       36,285

 

$            429

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

         (1,330)

 

                —

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

       (33,920)

 

            (360)

 

 

 

 

Expected loss remaining

$           1,035

 

$             69

 

 

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

 

 

September 30, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

 

(In Thousands)

 

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$     161,066

 

$         1,063

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

             624

 

                —

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

         (2,543)

 

                —

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

     (144,421)

 

            (795)

 

 

 

 

Expected loss remaining

14,726

 

268

Assumed loss sharing recovery percentage

84%

 

80%

 

 

 

 

Estimated loss sharing value(1)

        12,336

 

             214

FDIC loss share clawback

          1,211

 

                —

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

          2,034

 

                —

Accretable discount on FDIC indemnification asset

         (1,186)

 

              (33)

FDIC indemnification asset

$      14,395

 

$           181

 

(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

 

 

September 30, 2016

 

 

 

Foreclosed

 

Loans

 

Assets

 

(In Thousands)

 

 

 

 

Initial basis, net of activity since acquisition date

$       91,971

 

$         1,912

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

             325

 

                —

Reclassification from nonaccretable discount to accretable discount

 

 

 

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

         (2,654)

 

                —

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

       (81,986)

 

         (1,891)

 

 

 

 

Expected loss remaining

$        7,656

 

$             21

 

 

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