Each depositor insured to at least $250,000 per insured bank



Home > Industry Analysis > Failed Banks > Failed Bank List > Failed Bank Information > Bid Summary



Bid Summary

Waterford Village Bank
Williamsville, NY
Closing Date: July 24, 2009



Winning Bidder: Evans Bank, National Association, Angola, NY

Winning Bid: All deposits, whole bank with loss share Asset Discount of $800,000, Deposit Premium 0%.

Cover (second place) Bidder: Northwest Savings Bank, Warren, PA

Cover Bid: All deposits, whole bank with loss share Asset Discount of $1.1 million, Deposit Premium 0.55%.

Other Bidder Names:

M&T Bank, Oakfield, NY

Steuben Trust Company, Hornell, NY

The Lyons National Bank, Lyons, NY

Other Bids:

All deposits, whole bank with loss share Asset Discount of $1.55 million, Deposit Premium 0%.

All deposits, whole bank with loss share Asset Discount of $4.578 million, Deposit Premium 0%

All deposits, whole bank with loss share Asset Discount of $9.116 million, Deposit Premium 0.5%

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.

- The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid and the cover bid.

- 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