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Bank Failures

Bid Summary

Irwin Union Bank and Trust Company, Columbus, IN
Closing Date: September 18, 2009

Winning Bidder:

First Financial Bank, National Association, Hamilton, OH

Winning Bid:

All deposits, modified whole bank with loss share – Asset Discount of $544,101,862; Deposit Premium 1%.

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.
  • Only one conforming bid was received for this institution.
  • For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html

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Last Updated: November 20, 2020