FDIC INDEMNIFICATION ASSET

12 Months Ended

Dec. 31, 2019

Fdic Indemnification Asset [Abstract]

FDIC INDEMNIFICATION ASSET

8.          FDIC INDEMNIFICATION ASSET

The indemnification asset represented our estimate of future expected recoveries under the FDIC loss sharing arrangement for covered loans acquired in the GAB acquisition in 2009. The estimated fair value of the indemnification asset was $8.8 million at December 4, 2009, the date of acquisition. The following table presents changes in the indemnification asset for the periods indicated (in thousands):

	2019		2018
Balance as of January 1	$	649	$	1,353
Payments from FDIC		—		—
Amortization		(649)		(704)
Balance as of December 31,	$	—	$	649

There were two agreements with the FDIC, one for single family assets which was a 10-year agreement which expired on December 31, 2019, and one for non-single family (commercial) assets which was a 5-year agreement which expired on December 31, 2014.