Note 8. FDIC Loss Sharing Asset

We are a party to four loss sharing agreements with the FDIC. Such agreements cover a substantial portion of losses incurred on acquired covered loans, other real estate owned, and certain investment securities. The loss sharing agreements relate to the acquisitions of: (1) Affinity Bank ("Affinity") in August 2009, (2) Los Padres Bank ("Los Padres") in August 2010, (3) Western Commercial Bank ("Western Commercial") in connection with the May 2013 FCAL acquisition, and (4) San Luis Trust Bank ("San Luis") in connection with the May 2013 FCAL acquisition. Generally, under the terms of the loss sharing agreements, the FDIC is responsible for 80% of losses in connection with covered assets and is entitled to receive 80% of loss recoveries on the covered assets during the applicable contractual periods.

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, 2013	$	45,524
FDIC share of additional losses, net of recoveries	(4,153		)
Cash paid to the FDIC	2,645
Net amortization	(15,182		)
Balance, June 30, 2014	$	28,834

The following table presents information about the composition of the FDIC loss sharing asset, the true‑up liability, and the non‑single family and the single family covered assets as of the date indicated:



	June 30, 2014
	Affinity Bank		Los Padres Bank		Western Commercial Bank		San Luis Trust Bank		Total
	(In thousands)
FDIC loss sharing asset	$	2,315	$	15,101	$	1,605	$	9,813	$	28,834
True‑up liability	N/A		N/A		$	1,555	$	5,271	$	6,826
Non-single family covered assets⁽¹⁾	$	156,509	$	111,413	$	14,068	$	37,327	$	319,317
Single family covered assets	$	12,701	$	69,584	N/A		$	32,813	$	115,098
Loss sharing expiration dates:
Non‑single family	3rd Quarter 2014		3rd Quarter 2015		4th Quarter 2015		1st Quarter 2016
Single family	3rd Quarter 2019		3rd Quarter 2020		N/A		1st Quarter 2021
Loss recovery expiration dates:
Non‑single family	3rd Quarter 2017		3rd Quarter 2018		4th Quarter 2018		1st Quarter 2019
Single family	3rd Quarter 2019		3rd Quarter 2020		N/A		1st Quarter 2021

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(1)	Excludes securities.