Bid Summary
AztecAmerica Bank, Berwyn, IL
Closing Date: May 16, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) (a) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional OREO Pool (% of BV) (a)(b)(c) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid: Republic Bank of Chicago, Oak Brook, IL | All deposit whole bank | 1.03% | $(14,635) | N/A | N/A | N/A | N/A | N/A | N/A | 54.15% | No - 1 |
| Cover Bid: None | |||||||||||
| Other Bid: | All deposit basic P&A with optional loan pools | 1.03% | N/A | 66.89% | N/A | N/A | N/A | N/A | N/A | No Bid | No - 1 |
| Other Bid: | All deposit whole bank | 0.05% | $(18,448) | N/A | N/A | N/A | N/A | N/A | N/A | 10.00% | No - 1 |
| Other Bid: | All deposit whole bank | 0.00% | $(20,600) | N/A | N/A | N/A | N/A | N/A | N/A | 10.00 % | No - 1 |
(a) Whole Bank P&A bids have one discount amount. The OREO is bid separately.
(b) P&A with optional loan pool bids include separate pool pricing for each selected pool.
(c) bids less than the optional OREO pool reserve price were
not factored into the total bid cost.
Conforming Bid Notes:
1- Technical deficiencies in the board resolution.
Other Bidder Names & Locations:
Liberty Bank and Trust Company, New Orleans, LA
The Federal Savings Bank, Chicago, 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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html