Loss Sharing Agreements and FDIC Indemnification Assets: Preliminary Estimate of Contractually Required Payments Receivable for FASB-ASC 310-30 Policy Loans (Policies)

3 Months Ended

Jun. 30, 2012

Preliminary Estimate of Contractually Required Payments Receivable for FASB-ASC 310-30 Policy Loans:

Preliminary Estimate of Contractually Required Payments Receivable for FASB-ASC 310-30 Policy Loans

On the acquisition date, the preliminary estimate of the contractually required payments receivable for all FASB ASC 310-30 by Policy Loans acquired in the acquisition was $374.0 million, of which $96.4 million of cash flows were not expected to be collected, and the estimated fair value of the loans was $281.1 million.  A majority of these loans were valued as of their acquisition dates based on the liquidation value of the underlying collateral, because the expected cash flows were primarily based on the liquidation of underlying collateral and the timing and amount of the cash flows could not be reasonably estimated.