Bid Summary
Columbia Savings Bank, Cincinnati, OH
Closing Date: May 23, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/ (Discount) $(000) (a) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional OREO Pool (% of BV) (a)(b)(c) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid:
United Fidelity Bank, fsb, Evansville, IN |
All deposit whole bank | 0.00 % | $(4,032) | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Cover Bid:
Ohio Valley Bank, Henderson, KY |
All Deposit Whole Bank | 0.00% | $(6,900) | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Other Bid: | All deposit Whole Bank | 0.00% | $(4,032) | N/A | N/A | N/A | N/A | N/A | N/A | 68.60% | Yes |
| Other Bid: | All Deposit Basic P&A | 0.52% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | No - 1 |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(7,825) | N/A | N/A | N/A | N/A | N/A | N/A | 15.00% | Yes |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(9,455) | N/A | N/A | N/A | N/A | N/A | N/A | 25.00% | Yes |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(9,455) | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(10,749) | N/A | N/A | N/A | N/A | N/A | N/A | 64.00% | No - 2 |
Conforming Bid Notes:
1- Requests an all deposit basic P&A transaction excluding most assets, which was not offered to bidders.
2- Bidder's Board of Directors resolution did not match bid contents.
Other Bidder Names & Locations:
CenterBank, Milford, OH
Foundation Bank, Cincinnati, OH
The First Capital Bank of Kentucky, Louisville, KY
United Fideilty 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. 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