(6) Other Assets

A summary of the major components of other assets as of December 31, 2012 and 2011 follows:

(in thousands)	2012		2011

Net deferred tax asset	$	12,538	$	9,581
Cash surrender value of life insurance other than BOLI	9,614		9,716
Other real estate owned and other foreclosed property	7,364		7,773
Investments in tax credit related ventures	7,329		7,933
Mortgage servicing rights (MSRs)	2,088		1,630
FDIC prepaid assessment	1,732		3,106
Other short term receivables	1,289		1,277
Common securities of S.Y. Bancorp Capital Trust II	900		900
Goodwill	682		682
Investment in bank in expansion market	520		520
Domestic private investment fund	—		2,420
Other	7,351		5,306
	$	51,407	$	50,844

Bancorp maintains life insurance policies other than BOLI in conjunction with its non-qualified defined benefit and non-qualified compensation plans.

In 2009, the FDIC required insured institutions to prepay three years of estimated insurance assessments, to strengthen the cash position of the Deposit Insurance Fund without immediately impacting earnings of the banking industry. Bancorp’s prepaid assessment, paid in December 2009, totaled $6,458,000 and will be amortized based on quarterly FDIC assessments, likely into 2014.

MSRs are amortized in proportion to and over the period of estimated net servicing income, considering appropriate prepayment assumptions. MSRs are evaluated quarterly for impairment by comparing the carrying value to the fair value. The estimated fair values of MSRs at December 31, 2012 and 2011 were $2,702,000 and $2,292,000, respectively. The total outstanding principal balances of loans serviced for others were $374,079,000 and $287,579,000 at December 31, 2012, and 2011 respectively.

Changes in the net carrying amount of MSRs for the years ended December 31, 2012 and 2011 are shown in the following table.

(in thousands)	2012			2011
Balance at January 1	$	1,630		$	1,785
Originations	1,274			571
Amortization	(816		)	(726		)

Balance at December 31	$	2,088		$	1,630