Bid Summary
North Milwaukee State Bank, Milwaukee, WI
Closing Date: March 11, 2016
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | Pool 100 SFR (% of BV) | Pool 150 Other SFR (% of BV) | Pool 200 Church Loans (% of BV) | Pool 300 CRE (% of BV) | Pool 350 Other CRE (% of BV) | Pool 400 C&I (% of BV) | Pool 450 Other C&I (% of BV) | Pool 500 Student Loans (% of BV) | Optional OREO (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning bid and bidder: First-Citizens Bank & Trust Company, Raleigh, NC |
All deposit whole bank | 0.00 % | $ (10,800) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waived | Y |
| Cover Bid (second place): State Bank of Texas, Dallas, TX |
All deposit whole bank | 0.00% | $ (15,000) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waived | Y |
| Other Bid: | All deposit modified whole bank | 0.00 % | $ (11,000) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waived | Y |
| Other Bid: | All deposit basic P&A w/ Optional Loan Pools | 0.00 % | N/A | 62.0% | N/A | N/A | 62% | N/A | 62.0% | N/A | N/A | Waived | Y |
| Other Bid: | All deposit whole bank | 0.00 % | $ (16,787) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waived | Y |
Whole Bank P&A bids have one discount amount. The OREO is bid separately.
P&A with optional loan pool bids include separate pool pricing for each selected pool.
Bids with less than optional OREO pool reserve price were not factored into the total bid cost.
Other Bidder Names & Locations:
Liberty Bank and Trust Company, New Orleans, LA
State Bank of Texas, Dallas, TX
United Fidelity Bank, fsb, Evansville, IN
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.
- 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.
- 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 https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html