Covered Assets and FDIC Loss-sharing Asset (Tables)

6 Months Ended

Jun. 30, 2011

Covered Assets and FDIC Loss-sharing Asset

Analysis and Allowance for Losses on Covered Loans

		$241,391		$241,391		$241,391
(dollars in thousands)	Covered Loans June 30, 2011		Weighted- Average Risk Rating		Allowance for Loan Losses
Commercial Business	$	241,391		5.82	$	3,156
Real Estate 1-4 Family		84,568		4.68		508
Real Estate Commercial & Multifamily		365,099		5.72		3,861
Construction 1-4 Family		57,638		7.44		0
Construction Commercial & Multifamily		32,203		6.65		382
Consumer		65,936		4.60		41
Subtotal of covered loans		846,835			$	7,948
Less:
Valuation discount resulting from acquisition accounting		231,577
Allowance for loan losses		7,948
Covered loans, net of allowance for loan losses	$	607,310
(dollars in thousands)	Covered Loans December 31, 2010		Weighted- Average Risk Rating		Allowance for Loan Losses
Commercial Business	$	165,255		5.74	$	2,903
Real Estate 1-4 Family		68,700		4.77		1,013
Real Estate Commercial & Multifamily		341,063		5.70		821
Construction 1-4 Family		39,754		7.29		98
Construction Commercial & Multifamily		41,624		6.79		469
Consumer		58,337		4.49		751
Subtotal of covered loans		714,733			$	6,055
Less:
Valuation discount resulting from acquisition accounting		191,617
Allowance for loan losses		6,055
Covered loans, net of allowance for loan losses	$	517,061

Changes in Accretable Yield for Acquired Loans

(in thousands)	Three months ended June 30, 2011			Six months ended June 30, 2011
Balance at beginning of period	$	217,351		$	256,572
Accretion		(15,458	)		(36,761	)
Cash receipts, disposals and change in cash flows		52,629			34,711
Balance at end of period	$	254,522		$	254,522

Covered OREO at Carrying Value

(in thousands)	Three Months Ended June 30, 2011			Six Months Ended June 30, 2011
Covered OREO:
Balance, beginning of period	$	13,527		$	14,443
Established through acquisitions		10,896			10,896
Transfers in, net of write-downs ($23 and $441, respectively)		1,668			5,092
OREO improvements		0			0
Additional OREO write-downs		(99	)		(113	)
Proceeds from sale of OREO property		(4,122	)		(11,081	)
Gain on sale of OREO		2,369			5,002
Total covered OREO, end of period	$	24,239		$	24,239

FDIC Loss-sharing Asset

	Three months ended June 30,						Six months ended June 30,
(in thousands)	2011			2010			2011			2010
Balance at beginning of period	$	193,053		$	210,405		$	205,991		$	0
Adjustments not reflected in income
Established through acquistions		65,278			0			65,278			210,405
Cash received from the FDIC		(44,892	)		0			(44,892	)		0
FDIC share of additional estimated losses		991			13,947			2,295			13,947
Other		(1,773	)		(1,006	)		(1,241	)		(1,006	)
Adjustments reflected in income
(Amortization) accretion		(6,638	)		3,952			(15,641	)		3,952
Loan loss provision		1,841			0			1,503			0
Other		(1,622	)		(553	)		(7,055	)		(553	)
Balance at end of period	$	206,238		$	226,745		$	206,238		$	226,745