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Bank Failures

Bid Summary

Rock River Bank, Oregon, IL
Closing Date: July 2, 2009

Winning Bidder:

The Harvard State Bank, Harvard, IL

Winning Bid:

All deposits whole bank with loss share - Asset Discount $4,326,875, Deposit Premium 2%.

Other Bids:

None

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 bid for loss share was valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
  • Although three bids were received for this institution, the second and third bids would have been more costly than liquidation. They have therefore been excluded from this summary.
  • 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 16, 2021