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Bid Summary

The Elizabeth State Bank
Elizabeth, IL
Closing Date: July 2, 2009



Winning Bidder: Galena State Bank and Trust, Galena, IL

Winning Bid: All deposits, whole bank with loss share Asset Discount of $2.495 million, Deposit Premium 1%.

Cover (second place) Bidder: Devon Bank, Chicago, IL

Cover Bid: All deposits, modified whole bank with loss share – Asset Discount of $5.9
million, Deposit Premium 0%

Other Bidder: Community Bank, Winslow, IL
Other Bid: All deposits, modified whole bank with loss share – Asset Discount of $6.125
million, Deposit Premium 0%.

Notes:

- The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bids. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.

- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html




Last Updated 08/09/2011 cservicefdicdal@fdic.gov