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Acquired and Covered Loans
 12 Months Ended
Dec. 31, 2015
Acquired Loans [Abstract]  
Acquired and Covered Loans
ACQUIRED AND COVERED LOANS
Acquired loans consist primarily of loans that were acquired in business combinations that are not covered by the FDIC Agreements. These loans are included in loans, excluding covered loans, in the Consolidated Statements of Financial Condition. Covered loans consist of loans acquired by the Company in multiple FDIC-assisted transactions. Most loans and OREO acquired in those transactions are covered by the FDIC Agreements. The significant accounting policies related to acquired and covered loans, which are classified as PCI and Non-PCI, and the related FDIC indemnification asset are presented in Note 1, "Summary of Significant Accounting Policies."
During 2015, non-residential mortgage loans and OREO related to three FDIC-assisted transactions were no longer covered under the FDIC Agreements. These non-residential loans and OREO, which totaled $21.0 million as of December 31, 2015, are included in acquired loans and no longer classified as covered loans. The losses on residential mortgage loans and OREO will continue to be covered under the FDIC Agreements through various dates between December 31, 2019 and September 30, 2020.
The following table presents acquired and covered PCI and Non-PCI loans as of December 31, 2015 and 2014.
Acquired and Covered Loans
(Dollar amounts in thousands)
 
 
As of December 31,
 
 
2015
 
2014
 
 
PCI
 
Non-PCI
 
Total
 
PCI
 
Non-PCI
 
Total
Acquired loans
 
$
50,286

 
$
534,506

 
$
584,792

 
$
28,712

 
$
714,836

 
$
743,548

Covered loans
 
9,919

 
20,856

 
30,775

 
54,682

 
24,753

 
79,435

Total acquired and covered loans
 
$
60,205

 
$
555,362

 
$
615,567

 
$
83,394

 
$
739,589

 
$
822,983


Acquired Non-PCI loans that are renewed are no longer classified as acquired loans. These loans totaled $61.6 million as of December 31, 2015.
In connection with the FDIC Agreements, the Company recorded an indemnification asset. To maintain eligibility for the loss share reimbursement, the Company is required to follow certain servicing procedures as specified in the FDIC Agreements. The Company was in compliance with those requirements as of December 31, 2015, 2014, and 2013.
Rollforwards of the carrying value of the FDIC indemnification asset for the three years ended December 31, 2015 is presented in the following table.
Changes in the FDIC Indemnification Asset
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
Beginning balance
 
$
8,452

 
$
16,585

 
$
37,051

Amortization
 
(1,461
)
 
(3,315
)
 
(2,984
)
Change in expected reimbursements from the FDIC for changes in
  expected credit losses
 
1,313

 
(481
)
 
(1,242
)
Payments received from the FDIC
 
(4,401
)
 
(4,337
)
 
(16,240
)
Ending balance
 
$
3,903

 
$
8,452

 
$
16,585


Changes in the accretable yield for acquired and covered PCI loans were as follows.
Changes in Accretable Yield
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
Beginning balance
 
$
28,244

 
$
36,792

 
$
51,498

Additions
 
1,168

 
3,517

 
—

Accretion
 
(11,311
)
 
(12,535
)
 
(15,016
)
Other (1)
 
6,811

 
470

 
310

Ending balance
 
$
24,912

 
$
28,244

 
$
36,792


(1) 
Represents a rise in the expected future cash flows to be collected over the remaining estimated life of the underlying portfolio.