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Bank Failures

Bid Summary

Highland Community Bank, Chicago, IL
Closing Date: January 23, 2015

Bidder Type of Transaction Deposit Premium % Asset Premium/ (Discount) $(000) Optional Loan Pool (Performing Loan Pool) (% of BV) Optional Loan Pool (Non-Performing Loan Pool) (% of BV) Optional OREO Pool (% of BV) Conforming Bid
Winning bid and bidder: United Fidelity Bank, fsb, Evansville, IN Basic P&A 0.00% N/A 73.21% N/A No Bid Yes
Cover Bid: Standard Bank and Trust, Hickory Hills, IL All deposit whole bank 0.75% $ (6,820) N/A N/A No Bid Yes
Other bid All deposit basic P&A with optional loans pools 0.00% N/A 70.20% N/A No Bid Yes
Other bid All deposit whole bank 0.75% $ (7,070) N/A N/A No Bid Yes
Other bid All deposit whole bank 0.75% $ (7,270) N/A N/A 0.01% Yes
Other bid All deposit whole bank 0.00% $ (8,790) N/A N/A No Bid Yes
Other bid All deposit whole bank 0.00% $ (8,782) N/A N/A No Bid No - 1
Other bid All deposit whole bank 0.00% $ (9,835) N/A N/A No Bid No - 2
Other bid All deposit whole bank 0.00% $ (10,108) N/A N/A No Bid No - 3
Other bid All deposit whole bank 0.00% $ (10,584) N/A N/A No Bid No - 3
Other bid All deposit whole bank 0.00% $ (11,445) N/A N/A No Bid No - 4
Other bid All deposit whole bank 0.00% $ (11,696) N/A N/A No Bid Yes
Other bid All deposit whole bank 0.00% $ (13,148) N/A N/A No Bid Yes

Conforming Bid Notes:

1- Excludes loans totaling $3.0 million. 2- Excludes loans totaling $1.6 million. 3- Excludes loans totaling $1.4 million. 4- Excludes loans totaling $236,000.

Other Bidder Names & Locations:

Liberty Bank and Trust Company, New Orleans, LA
Providence Bank and Trust, South Holland, IL
Standard Bank and Trust, Hickory Hills, IL

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. Bids for loss share, if any, were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
  • The cover bid is the bid that: a. Is less costly than liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
  • There is no linkage between bidder names and bids, except in the case of the winning bid and the cover bid.
  • There are more bids than bidders because one or more bidders submitted more than one bid.
  • 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: August 3, 2021