11. Other Noninterest Expense

Components of other noninterest expense are as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2014		2013		2014		2013
Advertising	$	2,457	$	2,858	$	6,395	$	7,216
Ad valorem and franchise taxes		3,098		2,809		8,397		7,193
Printing and supplies		1,189		1,143		3,467		3,963
Insurance expense		944		887		3,002		3,018
Travel expense		1,009		1,074		2,966		3,475
Entertainment and contributions		1,396		969		4,337		3,960
Tax credit investment amortization		2,220		4,880		6,590		7,553
Other miscellaneous		6,821		19,851		25,105		32,504

Total other noninterest expense	$	19,134	$	34,471	$	60,259	$	68,882

Other miscellaneous expense for the nine months ended September 30, 2014 as shown in the table above includes nonoperating items totaling $1.1 million in the third quarter of 2014, $7.3 million in the second quarter of 2014 and $12.6 million in the third quarter of 2013. These items are further discussed below:

FDIC Settlement

During the second quarter of 2014, the Company recorded a $10.3 million expense for the settlement of an assessment by the FDIC related to its targeted review of certain previously paid loss claim reimbursement amounts. The assessment demanded repayment of these amounts due to the FDIC’s disagreement with the manner in which certain assets were administered and losses were calculated. During the third quarter, the settlement was paid and the FDIC began payment of claims.

Sale of Insurance Business

In April 2014, the Company sold its property and casualty and group benefits insurance intermediary business. The lines of business being divested represent approximately half of the Company’s 2013 insurance commissions and fees. A gain of $9.4 million was recorded on the sale based on a $15.5 million sales price less the related tangible and intangible assets.

Branch Closures

During the second and third quarters of 2014, the Company recorded $3.5 million and $1.1 million, respectively, in write-downs related to the 2014 closure of 15 branch locations in Mississippi, Florida and Louisiana as part of its ongoing branch rationalization process. Of the $3.5 million, $2.9 million is included in other miscellaneous expense.

Reverse Repurchase Obligations Early Termination Fee

During the second quarter of 2014, the Company recorded $3.5 million in fees related to the early termination of reverse repurchase obligations.