FDIC Indemnification Asset

9 Months Ended

Sep. 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)	September 30, 2013		December 31, 2012		September 30, 2012
Receivable related to loss claims incurred, not yet reimbursed	$	20,812		33,040		20,722
Receivable related to estimated future claims on loans		38,565		62,044		71,542
Receivable related to estimated future claims on foreclosed real estate		5,569		7,475		15,351
FDIC indemnification asset	$	64,946		102,559		107,615

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		9,078
Increase related to reimbursable expenses		3,714
Cash received from FDIC		(36,639	)
Accretion of loan discount		(11,676	)
Other		(2,090	)
Balance at September 30, 2013	$	64,946