Bid Summary
The Enloe State Bank, Cooper, TX
Closing Date: May 31, 2019
| Bidder | Type of Transaction | Deposit Premium % | Conforming Bid |
|---|---|---|---|
| Winning Bid: Legend Bank, N.A., Bowie, TX | Insured Deposit Basic P&A | 0.51% | Yes |
| Cover Bid: N/A | N/A | N/A | N/A |
| Other Bid: | All Deposit Basic P&A | 0.33% | Yes |
| Other Bid: | All Deposit Basic P&A | 1.00% | Yes |
| Other Bid: | All Deposit Basic P&A | 1.00% | Yes |
| Other Bid: | All Deposit Basic P&A | 1.06% | Yes |
Other Bidder Names & Locations:
Commercial Bank of Texas, National Association, Nacogdoches, TX
Legend Bank, N.A., Bowie, TX
The First National Bank in Cooper, Cooper, 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.
- The cover (second best) bid is the bid that: a. Is less costly then 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 and cover bids.
- 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