Irwin Union Bank, FSB, Louisville, KY
Closing Date: September 18, 2009
First Financial Bank, N.A., Hamilton, OH
All deposits, modified whole bank with loss share – Asset Discount $108,145,048; Deposit premium 0%
No other bids were received.
- 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 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.
- For more information on the bid disclosure policy, see www.fdic.gov/about/freedom/biddocs.html.