Non-interest income for the quarter and year ended December 31, 2012 was impacted by lower accretion of discount on the FDIC indemnification asset of $0.8 million and $15.3 million, respectively, as compared to $10.7 million and $55.9 million, respectively, for the quarter and year ended December 31, 2011. As the expected cash flows from ACI loans have increased as discussed above, cash flows from the FDIC indemnification asset have decreased, resulting in lower accretion. We expect the rate of accretion on the FDIC indemnification asset to be negative beginning in the first quarter of 2013.Income from resolution of covered assets, net was $11.4 million and $51.0 million, respectively, for the quarter and year ended December 31, 2012 compared to $11.7 million and $18.8 million, respectively, for the quarter and year ended December 31, 2011. This increase in income for the year ended December 31, 2012 resulted mainly from higher payoffs of ACI residential loans.
BankUnited, Inc. Reports 2012 Results, Earnings Exceed $211 Million
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