Rock River Bank, Oregon, IL
Closing Date: July 2, 2009
The Harvard State Bank, Harvard, IL
All deposits whole bank with loss share - Asset Discount $4,326,875, Deposit Premium 2%.
- 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 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.
- Although three bids were received for this institution, the second and third bids would have been more costly than liquidation. They have therefore been excluded from this summary.
- For more information on the bid disclosure policy, see www.fdic.gov/about/freedom/biddocs.html.