First Commercial Bank, Bloomington, MN
Closing Date: September 7, 2012
| 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: Republic Bank & Trust Co. Louisville, KY |
All deposit whole bank | 0.00% | $(79,412) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 1 | N/A |
| Cover - Simmons First National Bank Pine Bluff, AR | All deposit whole bank with loss share | 0.00% | $(26,990) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(34,900) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(34,950) | N/A | N/A | N/A | 80% | 80% | N/A | No | No - 2,3 | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(37,450) | N/A | N/A | N/A | 80% | 80% | N/A | No | No - 3 | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(39,400) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(42,450) | N/A | N/A | N/A | 80% | 80% | N/A | No | No - 2 | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(44,800) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(57,625) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank | 0.00% | $(85,763) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4,5 | N/A |
| Other bid | All deposit whole bank | 0.00% | $(87,293) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4,6 | N/A |
| Other bid | All deposit whole bank | 0.00% | $(93,163) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4,5 | N/A |
| Other bid | All deposit whole bank | 0.00% | $(94,693) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4,7 | N/A |
| Other bid | All deposit whole bank | 0.00% | $(100,763) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4,5 | N/A |
| Other bid | All deposit whole bank | 0.00% | $(102,293) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4,8 | N/A |
| Other bid | All deposit whole bank | 0.00% | $(108,163) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4,9 | N/A |
| Other bid | All deposit whole bank | 0.00% | $(109,693) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 4 | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(111,300) | N/A | N/A | N/A | 0% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(115,333) | N/A | N/A | N/A | 0% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank | 0.00% | $(126,825) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
Conforming Bid Notes:
1- Excludes any liability for participations sold and also excludes any servicing obligations for participations sold where the lead position was retained but have no beneficial interests.
2- Excludes true-up.
3- Excludes approximately
$11.6 million in single family loans and OREO and also excludes loans secured by bank stock.
4- Alters language on the Purchaser Eligibility Certificate (PEC).
5- Excludes SBA Loans, Letters of Credit, Participations and OREO.
6-
Excludes Participations and OREO.
7- Excludes OREO.
8- Excludes Participations.
9- Excludes SBA Loans and Letters of Credit.
Other Bidder Names:
- Central Bank, Stillwater, MN
- CorTrust Bank Natl Assoc., Mitchell, SD
- First Resource Bank, Savage, MN
- Great Southern Bank, Reeds Spring, MO
- Stearns Bank Natl Assoc., St Cloud, MN
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 are more bids than bidders because one or more bidders submitted more than one bid.
- 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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html