Note 10 – FDIC Indemnification Asset

The FDIC indemnification asset is the estimated amount that the Company will receive from the FDIC under loss share agreements associated with two FDIC-assisted failed bank acquisitions. See page 40 of the Company's 2010 Form 10-K for a detailed explanation of this asset.

The FDIC indemnification asset was comprised of the following components as of the dates shown:

($ in thousands)	September 30, 2011		December 31, 2010		September 30, 2010
Receivable related to claims submitted, not yet received	$	13,802		30,201		8,129
Receivable related to future claims on loans		90,258		86,966		81,643
Receivable related to future claims on other real estate owned		16,890		6,552		3,353
FDIC indemnification asset	$	120,950		123,719		93,125

The following presents a rollforward of the FDIC indemnification asset since December 31, 2010.

($ in thousands)

Balance at December 31, 2010	$	123,719
Increase related to Bank of Asheville acquisition		42,218
Increase related to unfavorable change in loss estimates		17,998
Increase related to reimbursable expenses		4,258
Cash received		(59,411	)
Accretion of loan discount		(7,894	)
Other		62
Balance at September 30, 2011	$	120,950