FDIC Indemnification Asset

12 Months Ended

Dec. 31, 2012

Fdic Indemnification Asset

FDIC Indemnification Asset

Note 6. FDIC Indemnification Asset

As discussed in Note 1(i), 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.

At December 31, 2012 and 2011, the FDIC indemnification asset was comprised of the following components:

($ in thousands)	2012		2011
Receivable related to loss claims incurred, not yet reimbursed	$	33,040		13,377
Receivable related to estimated future claims on loans		62,044		90,275
Receivable related to estimated future claims on foreclosed real estate		7,475		18,025
FDIC indemnification asset	$	102,559		121,677

The following presents a rollforward of the FDIC indemnification asset since January 1, 2010.

($ in thousands)
Balance at January 1, 2010	$	143,221
Increase related to unfavorable change in loss estimates		30,419
Increase related to reimbursable expenses		2,900
Cash received		(46,721	)
Accretion of loan discount		(6,100	)
Balance at December 31, 2010	$	123,719
Increase related to acquisition of The Bank of Asheville		42,218
Increase related to unfavorable change in loss estimates		29,814
Increase related to reimbursable expenses		5,725
Cash received		(69,339	)
Accretion of loan discount		(9,278	)
Other		(1,182	)
Balance at December 31, 2011	$	121,677
Increase related to unfavorable changes in loss estimates		16,984
Increase related to reimbursable expenses		6,947
Cash received		(29,796	)
Accretion of loan discount		(13,173	)
Other		(80	)
Balance at December 31, 2012	$	102,559