10. Other Assets, Net

At June 30, 2012 and December 31, 2011, other assets were as follows:


	June 30, 2012		December 31, 2011
	(In thousands)
Income tax receivables	$	3,836	$	7,473
Prepaid professional fees		3,680		3,695
Prepaid loan fees		7,213		7,738
Prepaid bank fees		631		657
Deposits in lieu of bonds and letters of credit		7,817		6,439
Prepaid insurance		1,444		1,970
Other		1,804		1,048

Total other assets, net	$	26,425	$	29,020

Prepaid Professional and Loan Fees

In accordance with ASC 470, these debt issuance costs are capitalized to other assets and amortized as interest over the term of the related debt.

Deposits in Lieu of Bonds and Letters of Credit

We are required to make deposits in lieu of bonds with various agencies for some of our homebuilding projects. These deposits may be returned as the collateral requirements decrease, or replaced with new bonds as bonding becomes available.

In June 2010, due to maturity of an unsecured bank line of credit, certain letters of credit were presented for payment and recorded as deposits in lieu of letters of credit. These deposits may be returned as collateral requirements decrease, or replaced with new letters of credit.