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Bank Failures

Bid Summary

Founders Bank, Worth, IL
Closing Date: July 2, 2009

Winning Bidder:

The PrivateBank and Trust Company, Chicago, IL

Winning Bid:

All deposits, whole bank with loss share - Asset Discount of $54.45 million, Deposit Premium 1.5%

Cover (second place) Bidder:

MB Financial Bank, N.A., Chicago, IL

Cover Bid:

All deposits, whole bank with loss share – Asset Discount of $49.50 million, Deposit Premium 0%.

Other Bidder Names:

Bridgeview Bank Group, Bridgeview, IL

Other Bids:

All deposits, whole bank with loss share - Asset Discount of $117.050 million, Deposit Premium 1.0%
All deposits, whole bank - Asset Discount of $245 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.
  • 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.
  • 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: November 18, 2020