FDIC Indemnification Asset

6 Months Ended

Jun. 30, 2014

Fdic Indemnification Asset

FDIC Indemnification Asset

Note 9 – 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 41 of the Company’s 2013 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, 2014		December 31, 2013		June 30, 2013
Receivable related to loss claims incurred, not yet reimbursed	$	7,036		12,649		40,401
Receivable related to estimated future claims on loans		20,196		33,398		45,866
Receivable related to estimated future claims on foreclosed real estate		2,174		2,575		6,683
FDIC indemnification asset	$	29,406		48,622		92,950

The following presents a rollforward of the FDIC indemnification asset since December 31, 2013.

($ in thousands)
Balance at December 31, 2013	$	48,622
Increase related to unfavorable changes in loss estimates		4,210
Increase related to reimbursable expenses		2,210
Cash received from FDIC		(15,256	)
Accretion of loan discount		(10,380	)
Balance at June 30, 2014	$	29,406