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Bid Summary

Irwin Union Bank and Trust Company
Columbus, IN
Closing Date: September 18, 2009

Winning Bidder: First Financial Bank, National Association, Hamilton, OH

Winning Bid: 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.

Last Updated 07/14/2010 cservicefdicdal@fdic.gov