FDIC Indemnification Asset

9 Months Ended

Sep. 30, 2012

Fdic Indemnification Asset

FDIC Indemnification Asset

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 38 of the Company’s 2011 Annual Report on 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, 2012		December 31, 2011		September 30, 2011
Receivable related to claims submitted, not yet received	$	20,722		13,377		13,802
Receivable related to estimated future claims on loans		71,542		90,275		90,258
Receivable related to estimated future claims on foreclosed real estate		15,351		18,025		16,890
FDIC indemnification asset	$	107,615		121,677		120,950

The following presents a rollforward of the FDIC indemnification asset since December 31, 2011.

($ in thousands)
Balance at December 31, 2011	$	121,677
Increase related to unfavorable changes in loss estimates		14,493
Increase related to reimbursable expenses		5,097
Cash received		(25,116	)
Accretion of loan discount		(8,364	)
Other		(172	)
Balance at September 30, 2012	$	107,615