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Bank Failures

Bid Summary

Valley Bank, Moline, IL
Closing Date: June 20, 2014

Bidder Type of Transaction Deposit Premium % Asset Premium/(Discount) $(000) Optional Loan Pool 200 (Performing Residential) (% of BV) Optional Loan Pool 210 (Non- Performing Residential) (% of BV) Optional Loan Pool 300 (ADC) (% of BV) Optional Loan Pool 400 (Performing Commercial RE) (% of BV) Optional Loan Pool 410 (Non Performing Commercial RE) (% of BV) Optional Loan Pool 500 (Land) (% of BV) Optional Loan Pool 600 (Agriculture) (% of BV) Optional Loan Pool 700 (Performing C&I) (% of BV) Optional Loan Pool 710 (Non-Performing C&I) (% of BV) Optional Loan Pool 800 (Consumer) (% of BV) Optional Loan Pool 900 (Gov't Guaranteed) (% of BV) Optional Loan Pool 1000 Participation Loans Purchased from Valley Bank Ft. Lauderdale Optional OREO Pool (% of BV) Conforming Bid
Winning Bid and Bidder:
Great Southern Bank Reeds Springs, MO
All deposit basic P&A with optional loans pools 0.00% N/A 89.39% No Bid 87.84% 89.01% No Bid 78.40% 89.81% No Bid No Bid 93.57% No bid No bid No bid N - 1,2
Cover:
MidwestOneBank, Iowa City, IA
All deposit whole bank 0.21% $(92,307) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 56.70% Y
Other Bid:   All deposit basic P&A with optional loans pools 0.00% N/A 77.27% 46.23% 76.70% 85.08% 43.53% 74.91% 85.55% 65.34% 4.74% 87.14% No bid No bid No bid N - 1,2
Other Bid:   All deposit whole bank 0.00% ($97,900) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A No bid Y
Other Bid:   All deposit whole bank 0.00% $(160,000) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A No bid N - 1

Conforming Bid Notes:

1- Requests branch closures.
2- Excludes subsidiaries and certain securities, other assets, receivables, and liabilities.

Other Bidder Names & Locations:

Great Southern Bank, Reeds Spring, MO
Stearns Bank, Saint Cloud, MN
The National Bank, Moline, 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: April 12, 2022