Bid Summary
The National Republic Bank of Chicago, Chicago, IL
Closing Date: October 24, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/ (Discount) $(000) | 100 Perf ADC (% of BV) | 150 Non- Perf ADC (% of BV) | 200 Perf C&I (% of BV) | 250 Non-Perf C&I (% of BV) | 300 Perf CRE (% of BV) | 350 Non-Perf CRE (% of BV) | 400 All Consumer (% of BV) | 500 Perf SFR (% of BV) | 550 Non-Perf SFR (% of BV) | 700 All Land (% of BV) | 900 Bank Stock Loans (% of BV) | 351 Non-Perf CRE (% of BV) | OREO (% of BV) | Branch Option | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning bid and bidder: State Bank of Texas, Dallas, TX | All deposit basic P&A with optional loan pools | 0.00% | N/A | 85.22% | 38.22% | 72.98% | 47.08% | 82.78% | N/A | 100.00% | 75.90% | 30.97% | 44.86% | 17.11% | Waive | Waive | Yes | Yes |
| Cover Bid: Republic Bank & Trust Company, Louisville, KY | All deposit basic P&A with optional loan pools | 0.72% | N/A | 65.50% | 27.70% | 19.50% | 5.50% | 81.50% | 59.50% | 45.50% | 75.50% | 52.50% | 84.50% | 20.50% | Waive | Waive | Waive | Yes |
| Other Bid: | All deposit whole bank | 0.00% | ($198,329) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 1 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 83.12% | 29.42% | 69.14% | 39.55% | 80.34% | N/A | 100.00% | 72.47% | 21.15% | 37.01% | 5.32% | Waive | Waive | Yes | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 83.12% | 29.42% | 69.14% | 39.55% | 80.34% | N/A | 100.00% | 72.47% | 21.15% | 37.01% | 5.32% | Waive | 50.00% | Yes | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 65.50% | 27.70% | 19.50% | 5.50% | 81.50% | 59.50% | 45.50% | 75.50% | 52.50% | 84.50% | 20.50% | Waive | Waive | Waive | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 62.42% | 24.62% | 16.42% | 2.42% | 78.42% | N/A | 42.42% | 72.42% | 49.42% | 81.42% | 17.42% | Waive | Waive | Waive | Yes |
| Other Bid: | All deposit whole bank | 0.00% | ($76,462) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 2 |
| Other Bid: | All deposit whole bank | 0.00% | ($80,535) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 3 |
| Other Bid: | All deposit whole bank | 0.00% | ($84,535) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 4 |
| Other Bid: | All deposit whole bank | 0.00% | ($83,535) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 5 |
| Other Bid: | All deposit whole bank | 0.00% | ($87,535) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 6 |
| Other Bid: | All deposit whole bank | 0.00% | ($88,535) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 6 |
| Other Bid: | All deposit whole bank | 0.00% | ($87,535) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 7 |
| Other Bid: | All deposit whole bank | 0.00% | ($91,535) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Yes | No - 8 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 83.12% | 29.42% | 69.14% | 39.55% | 80.34% | 47.25% | 100.00% | 72.47% | 21.15% | 37.01% | 5.32% | Waive | Waive | Yes | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 83.12% | 29.42% | 69.14% | 39.55% | 80.34% | 47.25% | 100.00% | 72.47% | 21.15% | 37.01% | 5.32% | Waive | 50.00% | Yes | Yes |
| Other Bid: | All deposit whole bank | 0.00% | ($278,480) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Waive | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 80.75% | N/A | 57.11% | N/A | 63.87% | N/A | 58.76% | 58.37 % | N/A | N/A | N/A | Waive | Waive | Yes | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 80.75% | N/A | 57.11% | N/A | 63.87% | N/A | 58.76% | 58.37 % | N/A | 5.45% | 4.71% | Waive | Waive | Waive | Yes |
| Other Bid: | Insured deposit whole bank | 0.00% | ($324,693) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Waive | No - 9 |
| Other Bid: | All deposit whole bank | 0.00% | ($324,693) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Waive | No - 9 |
| Other Bid: | Insured deposit whole bank | 0.00% | ($326,693) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Waive | No - 9 |
| Other Bid: | All deposit whole bank | 0.00% | ($326,693) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Waive | No - 9 |
| Other Bid: | All deposit whole bank | 0.00% | ($430,000) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 60.00% | Waive | No - 9 |
Conforming Bid Notes:
1- Excludes loans totaling $171.8 million.
2- Excludes loans totaling $429.3 million.
3- Excludes loans totaling $424.5 million.
4- Excludes loans totaling $414.6 million.
5- Excludes loans totaling $415.9 million.
6- Excludes
loans totaling $406.1 million.
7- Excludes loans totaling $409.0 million.
8- Excludes loans totaling $399.2 million.
9- Requests several modifications to the terms of Purchase and Assumptions Agreement.
Other Bidder Names:
Beal Bank SSB, Plano, TX
First-Citizens Bank & Trust, Raleigh, NC
Republic Bank & Trust Co., Louisville, KY
Republic Bank of Chicago, Chicago, IL
State Bank of Texas, Dallas, TX
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. Bids for loss share, if any, were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
- 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 and the cover bid.
- There are 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