ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS (Tables)

3 Months Ended

Mar. 31, 2017

From October 2009 through July 2012, the Company participated in ten FDIC-assisted acquisitions whereby the Company purchased certain failed institutions out of the FDIC’s receivership. These institutions include the following:

Bank Acquired	Location	Branches	Date Acquired
American United Bank (“AUB”)	Lawrenceville, Ga.	1	October 23, 2009
United Security Bank (“USB”)	Sparta, Ga.	2	November 6, 2009
Satilla Community Bank (“SCB”)	St. Marys, Ga.	1	May 14, 2010
First Bank of Jacksonville (“FBJ”)	Jacksonville, Fl.	2	October 22, 2010
Tifton Banking Company (“TBC”)	Tifton, Ga.	1	November 12, 2010
Darby Bank & Trust (“DBT”)	Vidalia, Ga.	7	November 12, 2010
High Trust Bank (“HTB”)	Stockbridge, Ga.	2	July 15, 2011
One Georgia Bank (“OGB”)	Midtown Atlanta, Ga.	1	July 15, 2011
Central Bank of Georgia (“CBG”)	Ellaville, Ga.	5	February 24, 2012
Montgomery Bank & Trust (“MBT”)	Ailey, Ga.	2	July 6, 2012

Components of Covered Assets

The following table summarizes components of all covered assets at March 31, 2017 and December 31, 2016 and their origin:

(dollars in thousands)	Covered Loans		Less: Fair Value Adjustments		Total Covered Loans		OREO		Less: Fair Value Adjustments		Total Covered OREO		Total Covered Assets		FDIC Loss- Share Receivable (Payable)
March 31, 2017
AUB	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	(34)
USB		3,118		12		3,106		-		-		-		3,106		(1,655)
SCB		3,989		36		3,953		-		-		-		3,953		(19)
FBJ		3,714		433		3,281		-		-		-		3,281		(255)
DBT		11,655		486		11,169		-		-		-		11,169		(4,229)
TBC		1,737		-		1,737		-		-		-		1,737		(48)
HTB		1,899		30		1,869		-		-		-		1,869		708
OGB		1,068		32		1,036		-		-		-		1,036		(1,040)
CBG		11,454		881		10,573		215		-		215		10,788		83
Total	$	38,634	$	1,910	$	36,724	$	215	$	-	$	215	$	36,939	$	(6,489)

December 31, 2016
AUB	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	(27)
USB		3,199		13		3,186		51		-		51		3,237		(1,642)
SCB		4,019		51		3,968		-		-		-		3,968		(32)
FBJ		3,767		452		3,315		-		-		-		3,315		(234)
DBT		12,166		565		11,601		-		-		-		11,601		(4,591)
TBC		1,679		-		1,679		-		-		-		1,679		(33)
HTB		1,913		33		1,880		-		-		-		1,880		734
OGB		1,077		32		1,045		-		-		-		1,045		(993)
CBG		33,449		1,963		31,486		1,161		4		1,157		32,643		505
Total	$	61,269	$	3,109	$	58,160	$	1,212	$	4	$	1,208	$	59,368	$	(6,313)

Changes in FDIC Shared-Loss Receivable

Changes in the FDIC shared-loss receivable (payable) for the three months ended March 31, 2017 and 2016 are as follows:

(dollars in thousands)	March 31, 2017		March 31, 2016
Beginning balance, January 1	$	(6,313)	$	6,301
Payments paid to (received from) FDIC		559		(3,299)
Amortization		(415)		(1,545)
Changes in clawback liability		(101)		(91)
Increase in receivable due to:
Net charge-offs (recoveries) on covered loans		(224)		(673)
Loss (gain) on covered other real estate owned		(15)		581
Reimbursable expenses on covered assets		171		244
Other activity, net		(151)		(321)
Ending balance	$	(6,489)	$	1,197