The Farmers and Merchants State Bank of Argonia, Argonia, KS
Closing Date: October 13, 2017
|Bidder||Type of Transaction||Deposit Premium %||Asset Premium/ (Discount) $(000)||Optional Loan Pool (Performing) (% of BV)||Optional Loan Pool (Gov't Guar) (% of BV)||Optional Loan Pool (Non-Performing) (% of BV)||Optional OREO Pool (% of BV)||Conforming Bid|
|Winning Bid: Conway Bank, Conway Springs, KS||All deposit Whole Bank||2.50%||($1,920)||N/A||N/A||N/A||N/A||Yes|
|Cover Bid: Howard State Bank, Howard, KS||All Deposit Whole Bank||2.00%||($5,491)||N/A||N/A||N/A||N/A||Yes|
|Other Bid:||All deposit Basic P&A with Optional Loan Pools||0.00%||N/A||71.98%||67.47%||15.00%||No Bid||Yes|
|Other Bid:||All deposit Whole Bank||0.00%||($6,442)||N/A||N/A||N/A||N/A||No|
|Other Bid:||All deposit Whole Bank||2.50%||($2,680)||N/A||N/A||N/A||N/A||Yes|
|Other Bid:||All deposit Whole Bank||2.50%||($13,250)||N/A||N/A||N/A||N/A||Yes|
|Other Bid:||All deposit Whole Bank||2.77%||($6,618)||N/A||N/A||N/A||N/A||Yes|
Other Bidder Names & Locations:
BancCentral, NA, Alva, OK
First-Citizens B&T, Raleigh, NC
First State Bank Nebraska, Lincoln, NE
Vintage Bank, Leon, KS
- 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.
- The cover (second best) bid is the bid that: a. Is less costly then 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 and cover bids.
- There may be more bids than bidders because one or more bidders submitted more than one bid.
- For more information on the bid disclosure policy, see www.fdic.gov/about/freedom/biddocs.html.