Our credit loss experience on loans acquired from the SJB acquisition continued to improve. At December 31, 2012, the remaining discount associated with the SJB loans approximated $25.3 million. Based on the current forecast of expected cash flows, approximately $16.4 million of the discount is expected to accrete into interest income over the remaining lives of the loans. The FDIC loss sharing asset totaled $18.5 million at December 31, 2012. The loss sharing asset will continue to be reduced by loss claims submitted to the FDIC with the remaining balance amortized on the same basis as the discount, not to exceed the remaining life of the loss share contract of approximately 1.75 years.Non-interest income was $5.7 million for the fourth quarter of 2012, compared with $2.6 million for the third quarter. Non-interest income for the fourth quarter was reduced by a $2.6 million net decrease in the FDIC loss sharing asset, compared to a $7.1 million net decrease for the third quarter.
CVB Financial Corp. Reports Earnings For 2012
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