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Bid Summary
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Irwin Union Bank, FSB
Louisville, KY
Closing Date: September 18, 2009
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Winning Bidder:
First Financial Bank, N.A., Hamilton, OH
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Winning Bid:
All deposits, modified whole bank with loss share – Asset Discount $108,145,048;
Deposit premium 0% |
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No other bids were received.
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Notes:
- The winning bidder’s acquisition of all the deposits was the least
costly resolution compared to a liquidation alternative. The liquidation
alternative was valued using valuation models to estimate the market value
of the assets. The bid for loss share was valued using a discounted cash
flow analysis for the loss share portfolio over the life of the loss share
agreement.
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