Irwin Union Bank and Trust Company, Columbus, IN
Closing Date: September 18, 2009
First Financial Bank, National Association, Hamilton, OH
All deposits, modified whole bank with loss share – Asset Discount of $544,101,862; Deposit Premium 1%.
- 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 bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
- Only one conforming bid was received for this institution.
- For more information on the bid disclosure policy, see www.fdic.gov/about/freedom/biddocs.html.