Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Bank Failures

Bid Summary

AmTrust Bank, Cleveland, OH
Closing date: December 4, 2009

Bid Whole Bank Deposit Premium Ohio Deposit Premium Florida Deposit Premium Arizona Deposit Premium All or Insured Deposits Loss Share Pool A, $ in millions Loss Share Pool B, $ in millions Servicing Pool, $ in millions
Winning Bid: New York Community Bank, Westbury, NY 0%       All -425 for Loss Share Pools A and B, plus warrants -425 for Loss Share Pools A and B, plus warrants No bid
Cover (second place) Bidder and Bid TD Bank, N.A., Portland, ME 0%            
Other Bid     1%   All     No bid
Other Bid     0%   All -153   No bid
Other Bid     0% 0% All -183   No bid
Other Bid     0%   All   -154.5 No bid
Other Bid     0% 0% All   -184.5 No bid
Other Bid     0%   All -153 -154.5 No bid
Other Bid     0%   All -381 -509 -85
Other Bid     0% 0% All -386 -514 -85
Other Bid   0% 0%   All -441 -589 -85
Other Bid   1.25%     All -1,389   No bid
Other Bid   0.50%     Insured -882 -878 No bid

Other Bidder Names & Locations:

EverBank, Jacksonville, FL
FirstMerit Bank, N.A., Akron, OH
TD Bank National Association, Portland, ME
Third Federal Savings & Loan, Cleveland, OH

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

Back to top

Last Updated: November 16, 2020