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Bank Failures

Bid Summary

The Enloe State Bank, Cooper, TX
Closing Date: May 31, 2019

Bidder Type of Transaction Deposit Premium % Conforming Bid
Winning Bid: Legend Bank, N.A., Bowie, TX Insured Deposit Basic P&A 0.51% Yes
Cover Bid: N/A N/A N/A N/A
Other Bid: All Deposit Basic P&A 0.33% Yes
Other Bid: All Deposit Basic P&A 1.00% Yes
Other Bid: All Deposit Basic P&A 1.00% Yes
Other Bid: All Deposit Basic P&A 1.06% Yes

Other Bidder Names & Locations:

Commercial Bank of Texas, National Association, Nacogdoches, TX
Legend Bank, N.A., Bowie, TX
The First National Bank in Cooper, Cooper, TX

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 cover (second best) bid is the bid that: a. Is less costly then 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 and cover bids.
  • There may be 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: December 22, 2021