Western Springs National Bank and Trust, Western Springs, IL
Closing Date: April 8, 2011
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | SF Loss Share Tranche 1 | SF Loss Share Tranche 2 | SF Loss Share Tranche 3 | Commercial Loss Share Tranche 1 | Commercial Loss Share Tranche 2 | Commercial Loss Share Tranche 3 | Value Appreciation Instrument | Conforming Bid | Linked |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning bid and bidder: Heartland Bank and Trust Company, Bloomington, IL | All deposit whole bank with loss share | 0.00% | $ (27,900) | N/A | N/A | NA | 80% | 80% | N/A | No | Yes | N/A |
| Cover - First Midwest Bank, Itasca, IL | All deposit whole bank with loss share | 0.80% | $(14,700) | 80% | 80% | N/A | 80% | 80% | N/A | Yes | No | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $ (14,900) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $ (15,310) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.80% | $ (17,800) | 75% | 80% | N/A | 75% | 80% | N/A | Yes | No | N/A |
| Other bid | All deposit whole bank with loss share | 2.00% | $ (19,465) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 1.20% | $ (22,400) | 80% | 80% | N/A | 80% | 80% | N/A | Yes | No | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $ (39,173) | 80% | 80% | N/A | 80% | 80% | N/A | No | No | N/A |
| Other bid | All deposit whole bank | 0.00% | $ (45,410) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank | 2.00% | $ (58,087) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
Other Bidder Names:
Evergreen Bank Group, Oak Brook, IL
FirstMerit Bank, N.A., Akron, OH
Heartland Bank and Trust Company, Bloomington, IL
Hinsdale Bank & Trust Company, Hinsdale, IL
Inland Bank & Trust Company, Oak Brook, 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. If any bids were received that would have been more costly than liquidation they have been excluded from this summary.
- The cover bid is the least costly bid after excluding all bids submitted by the winning bidder.
- 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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html