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Acquired and Covered Loans
 3 Months Ended
Mar. 31, 2019
Transfers and Servicing [Abstract]  
Acquired and Covered Loans
ACQUIRED AND COVERED LOANS
The significant accounting policies related to acquired and covered loans, which are classified as PCI and non-PCI, are presented in Note 1, "Summary of Significant Accounting Policies."
The following table presents the carrying amount of acquired and covered PCI and non-PCI loans as of March 31, 2019 and December 31, 2018.
Acquired and Covered Loans(1) 
(Dollar amounts in thousands)
 
 
As of March 31, 2019
 
As of December 31, 2018
 
 
PCI
 
Non-PCI
 
Total
 
PCI
 
Non-PCI
 
Total
Acquired loans
 
$
96,455

 
$
1,086,779

 
$
1,183,234

 
$
108,049

 
$
1,247,492

 
$
1,355,541

Covered loans
 
5,652

 
4,488

 
10,140

 
5,819

 
4,869

 
10,688

Total acquired and covered loans
 
$
102,107

 
$
1,091,267

 
$
1,193,374

 
$
113,868

 
$
1,252,361

 
$
1,366,229


(1) 
Included in loans in the Consolidated Statements of Condition.
The outstanding balance of PCI loans was $156.0 million and $175.2 million as of March 31, 2019 and December 31, 2018, respectively.
Acquired non-PCI loans that are renewed are no longer classified as acquired loans. These loans totaled $483.1 million and $458.0 million as of March 31, 2019 and December 31, 2018, respectively.
In connection with the FDIC Agreements, the Company recorded an indemnification asset. The carrying value of the FDIC indemnification asset was $1.8 million and $2.1 million as of March 31, 2019 and December 31, 2018, respectively.
Changes in the accretable yield for acquired and covered PCI loans were as follows.
Changes in Accretable Yield
(Dollar amounts in thousands)
 
 
Quarters Ended 
 March 31,
 
 
2019
 
2018
Beginning balances
 
$
43,725

 
$
32,957

Accretion
 
(4,201
)
 
(3,618
)
Other(1)
 
11

 
7,204

Ending balance
 
$
39,535

 
$
36,543

(1) 
Increases represent a rise in the expected future cash flows to be collected over the remaining estimated life of the underlying portfolio, while decreases result from the resolution of certain loans occurring earlier than anticipated.
Total accretion on acquired and covered PCI and non-PCI loans for the quarters ended March 31, 2019 and 2018 was $6.4 million and $5.1 million, respectively.