FDIC LOSS SHARING ASSET

3 Months Ended

Mar. 31, 2012

FDIC LOSS SHARING ASSET

FDIC LOSS SHARING ASSET

NOTE 7—FDIC LOSS SHARING ASSET

        The FDIC loss sharing asset was initially recorded at fair value, which represented the present value of the estimated cash payments from the FDIC for future losses on covered assets. The ultimate collectibility of this asset is dependent upon the performance of the underlying covered assets, the passage of time and claims paid by the FDIC. The following table presents the changes in the FDIC loss sharing asset for the period indicated:

	FDIC Loss Sharing Asset
	(In thousands)
Balance, December 31, 2011	$	95,187
FDIC share of additional losses, net of recoveries		979
Cash received from FDIC		(12,736	)
Net amortization		(3,860	)
Balance, March 31, 2012	$	79,570