FDIC Indemnification Asset

6 Months Ended

Jun. 30, 2013

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 40 of the Company’s 2012 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)	June 30, 2013		December 31, 2012		June 30, 2012
Receivable related to loss claims incurred, not yet reimbursed	$	40,401		33,040		18,574
Receivable related to estimated future claims on loans		45,866		62,044		79,308
Receivable related to estimated future claims on foreclosed real estate		6,683		7,475		19,020
FDIC indemnification asset	$	92,950		102,559		116,902

The following presents a rollforward of the FDIC indemnification asset since December 31, 2012.

($ in thousands)
Balance at December 31, 2012	$	102,559
Increase related to unfavorable changes in loss estimates		9,514
Increase related to reimbursable expenses		2,365
Cash received from FDIC		(12,018	)
Accretion of loan discount		(8,216	)
Other		(1,254	)
Balance at June 30, 2013	$	92,950