Bid Summary
Ericson State Bank, Ericson, NE
Closing Date: February 14, 2020
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/ (Discount) $(000) | Optional Loan Pool (Performing Consumer) (% of BV) | Optional Loan Pool (Performing C&I) (% of BV) | Optional Loan Pool (Perf. SFR, CRE & ADC) (% of BV) | Optional Loan Pool (Perf. Ag production and land) (% of BV) | Optional Loan Pool (Non-Perf. Related loans) (% of BV) | Optional Loan Pool (All other non-performing) (% of BV) | Optional OREO Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid: Farmers and Merchants Bank, Milford, Nebraska | All deposit Basic P&A with Optional Loan Pools | 4.05% | N/A | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | Yes |
| Cover Bid: Citizens State Bank Wisner, NE |
All deposit Basic P&A with Optional Loan Pools | 1.00% | N/A | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | Yes |
| Other Bids: | |||||||||||
| Other: | All deposit Whole Bank P&A | 0.00% | ($51,780) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 1.00% | N/A | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | No - 1 |
| Other: | All deposit Basic P&A with Optional Loan Pools | 2.00% | N/A | No Bid | No Bid | No Bid | 50.72% | No Bid | No Bid | 40.00% | Yes |
| Other: | All deposit Whole Bank P&A | 0.00% | ($68,500) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 2.00% | N/A | 49.82% | 45.27% | 44.81% | 50.72% | No Bid | No Bid | 40.00% | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 2.00% | N/A | 49.82% | 44.27% | 44.81% | 50.72% | 0.50% | 0.50% | 40.00% | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 2.05% | N/A | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | Yes |
| Other: | All deposit Whole Bank P&A | 1.29% | ($66,070) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 0.00% | N/A | 20.00% | 10.00% | 15.00% | 35.00% | No Bid | 10.00% | 20.00% | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 2.00% | N/A | No Bid | 45.27% | 44.81% | 50.72% | No Bid | No Bid | 40.00% | Yes |
| Other: | All deposit Whole Bank P&A | 2.00% | ($52,574) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 0.00% | N/A | No Bid | No Bid | No Bid | 37.00% | No Bid | No Bid | 20.00% | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 0.00% | N/A | No Bid | No Bid | 25.00% | 36.00% | No Bid | No Bid | 20.00% | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 0.00% | N/A | 10.00% | No Bid | 20.00% | 34.00% | No Bid | No Bid | 20.00% | Yes |
| Other: | All deposit Basic P&A with Optional Loan Pools | 2.05% | N/A | No Bid | No Bid | No Bid | No Bid | No Bid | No Bid | 40.00% | Yes |
Conforming Bid Note:
1- Excludes all brokered deposits
Other Bidder Names & Locations:
BankFirst, Norfolk, NE
Citizens State Bank, Wisner, NE
First-Citizens Bank & Trust Company, Raleigh, NC
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 model to estimate the market value of the assets.
- The cover (second best) 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 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