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FDIC Indemnification Asset | 12 Months Ended
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Dec. 31, 2014
FDIC Indemnification Asset |
Note 7. | FDIC Indemnification Asset
The Company entered into loss share agreements with the FDIC in 2012 in connection with the FDIC-assisted acquisition of Waccamaw. The FDIC agreed to cover 80% of most loan and foreclosed real estate losses under the loss share agreements. Certain expenses incurred in relation to these covered assets are reimbursable by the FDIC. Estimated reimbursements are netted against the expense on covered assets in the Company’s consolidated statements of income. The following table presents activity in the FDIC indemnification asset in the periods indicated:
|  | Year Ended December 31, |
(Amounts in thousands) |  | 2014 |  |  | 2013 |
Beginning balance |  | $ | 34,691 |  |  | $ | 48,149 |
(Decrease) increase in estimated losses on covered loans |  |  | (422 | ) |  |  | 451 |
Increase in estimated losses on covered OREO |  |  | 1,851 |  |  |  | 4,425 |
Reimbursable expenses from the FDIC |  |  | 527 |  |  |  | 1,574 |
Net amortization |  |  | (3,979 | ) |  |  | (5,597 | )
Reimbursements from the FDIC |  |  | (4,768 | ) |  |  | (14,311 | )
Ending balance |  | $ | 27,900 |  |  | $ | 34,691 |

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- Definition FDIC loss share agreement receivable. + References No definition available. + Details
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