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Note 8: Acquired Loans, Loss Sharing Agreements and FDIC Indemnification Assets: FDIC Indemnification Asset Roll Forward (Tables)
3 Months Ended
Mar. 31, 2015
TeamBank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$40,664

 

$72

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(1,832)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(38,626)

 

(71)

 

 

 

 

Expected loss remaining

206

 

1

Assumed loss sharing recovery percentage

89%

 

100%

 

 

 

 

Estimated loss sharing value

183

 

1

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

406

 

FDIC indemnification asset

$589

 

$1

 

 

December 31, 2014

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$43,855

 

$132

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(1,923)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(41,560)

 

(119)

 

 

 

 

Expected loss remaining

372

 

13

Assumed loss sharing recovery percentage

85%

 

77%

 

 

 

 

Estimated loss sharing value

315

 

10

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

359

 

FDIC indemnification asset

$674

 

$10

 

Vantus Bank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$39,588

 

$1,084

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(765)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(38,571)

 

(894)

 

 

 

 

Expected loss remaining

252

 

190

Assumed loss sharing recovery percentage

61%

 

0%

 

 

 

 

Estimated loss sharing value(1)

153

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

540

 

FDIC indemnification asset

$693

 

$—

 

(1)

Includes $152,000 impairment of indemnification asset for foreclosed assets.  Resolution of certain items related to commercial foreclosed assets did not occur prior to the expiration of the non-single-family loss sharing agreement for Vantus Bank on September 30, 2014.

 

 

 

December 31, 2014

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$42,138

 

$1,084

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(504)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(40,997)

 

(894)

 

 

 

 

Expected loss remaining

637

 

190

Assumed loss sharing recovery percentage

72%

 

0%

 

 

 

 

Estimated loss sharing value

461

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

324

 

FDIC indemnification asset

$785

 

$—

 

Sun Security Bank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$53,421

 

$1,778

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(3,233)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(47,142)

 

(1,237)

 

 

 

 

Expected loss remaining

3,046

 

541

Assumed loss sharing recovery percentage

60%

 

80%

 

 

 

 

Estimated loss sharing value

1,823

 

433

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

2,579

 

Accretable discount on FDIC indemnification asset

(175)

 

(63)

FDIC indemnification asset

$4,227

 

$370

 

 

December 31, 2014

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$59,618

 

$2,325

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(3,341)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(52,166)

 

(1,488)

 

 

 

 

Expected loss remaining

4,111

 

837

Assumed loss sharing recovery percentage

65%

 

80%

 

 

 

 

Estimated loss sharing value

2,676

 

670

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

2,662

 

Accretable discount on FDIC indemnification asset

(267)

 

(64)

FDIC indemnification asset

$5,071

 

$606

 

InterBank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$233,417

 

$4,514

Non-credit premium/(discount), net of activity since acquisition date

1,239

 

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(17,048)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(197,375)

 

(3,758)

 

 

 

 

Expected loss remaining

20,233

 

756

Assumed loss sharing recovery percentage

83%

 

80%

 

 

 

 

Estimated loss sharing value(1)

16,741

 

605

FDIC loss share clawback

3,532

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

13,639

 

Accretable discount on FDIC indemnification asset

(2,564)

 

(33)

FDIC indemnification asset

$31,348

 

$572

 

(1)

Includes $400,000 impairment of indemnification asset for loans

 

 

December 31, 2014

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis for loss sharing determination,

 

 

 

net of activity since acquisition date

$244,977

 

$4,494

Non-credit premium/(discount), net of activity since acquisition date

1,361

 

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(19,566)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(201,830)

 

(3,986)

 

 

 

 

Expected loss remaining

24,942

 

508

Assumed loss sharing recovery percentage

82%

 

80%

 

 

 

 

Estimated loss sharing value

20,509

 

406

FDIC loss share clawback

3,620

 

Indemnification asset to be amortized resulting from

 

 

 

change in expected losses

15,652

 

Accretable discount on FDIC indemnification asset

(2,967)

 

(33)

FDIC indemnification asset

$36,814

 

$373

 

Valley Bank  
FDIC Indemnification Asset Roll Forward

 

 

March 31, 2015

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis, net of activity since acquisition date

$139,183

 

$868

Non-credit premium/(discount), net of activity since acquisition date

1,295

 

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(2,308)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(116,433)

 

(868)

 

 

 

 

Expected loss remaining

$21,737

 

$—

 

 

December 31, 2014

 

 

 

Foreclosed

 

Loans

 

Assets

(In Thousands)

 

 

 

Initial basis, net of activity since acquisition date

$145,845

 

$778

Non-credit premium/(discount), net of activity since acquisition date

1,514

 

Reclassification from nonaccretable discount to accretable discount

 

 

 

due to change in expected losses (net of accretion to date)

(1,519)

 

Original estimated fair value of assets, net of activity since

 

 

 

acquisition date

(121,982)

 

(778)

 

 

 

 

Expected loss remaining

$23,858

 

$—