Bid Summary
Bank of Wausau, Wausau, WI
Closing Date: August 9, 2013
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | SF Loss Share Tranche 1 | SF Loss Share Tranche 2 | SF Loss Share Tranche 3 | Commercial Loss Share Tranche 1 | Commercial Loss Share Tranche 2 | Commercial Loss Share Tranche 3 | Value Appreciation Instrument | Conforming Bid | Linked |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning bid and bidder: Nicolet National Bank, Green Bay, WI | All deposit whole bank | 0.00% | $(4,751) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 1 | N/A |
| Cover: Great Southern Bank Reeds Spring, MO | All deposit whole bank with loss share | 0.00% | $ (5,900) | N/A | N/A | N/A | 80% | 80% | N/A | No | No - 2 | N/A |
| Other Bid | All deposit whole bank | 0.00% | $(5,850) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 3 | N/A |
| Other Bid | All deposit whole bank | 0.00% | $(8,738) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4 | N/A |
| Other Bid | All deposit whole bank | 0.00% | $(12,000) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 5 | N/A |
| Other Bid | All deposit whole bank | 0.00% | $(12,441) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 6 | N/A |
| Other Bid | All deposit whole bank | 0.00% | $(12,944) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
Conforming Bid Notes:
1- Excludes $11.3 million in loans and $2.4 million in OREO.
2- Eliminates the true-up obligation from the loss share agreements.
3- Excludes $7.9 million in loans and $2.4 million in OREO
4- Excludes $3.7 million in loans and
$789,000 in OREO.
5- Excludes the Bank's investment in subsidiaries totaling $265,000 and $524,000 in OREO.
6- Excludes one loan with a book value of $0 that includes an unfunded commitment of $1.1 million.
Other Bidder Names:
Nicolet National Bank, Green Bay, WI
Peoples State Bank, Wausau, WI
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.
- The Other Bidder Names and the Other Bids are in random order. 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