The Freedom State Bank, Freedom, OK
Closing Date: June 27, 2014
|Bidder||Type of Transaction||Deposit Premium %||Asset Premium/(Discount) $(000)||100 - Performing Loans (% of BV)||200 - Non-Performing Loans (% of BV)||Bid on Bank Premises||Conforming Bid|
|Winning bid and bidder: Alva State Bank & Trust Company, Alva, OK||All Deposit Basic P&A with Optional Pools||1.00%||0%||98.00%||50.00%||Yes||Yes|
|Cover Bid: None||N/A||N/A||N/A||N/A||N/A||N/A||N/A|
|Other Bid:||All Deposit Basic P&A with Optional Pools||1.00%||$0||98.00%||No Bid||Yes||Yes|
|Other Bid:||All Deposit Whole Bank||1.00%||$(3,704)||N/A||N/A||Yes||Yes|
P&A with optional loan pool bids include separate pool pricing for each selected pool.
Other Bidder Names:
Alva State Bank & Trust Company, Alva, OK
Bank of Commerce, Duncan, OK
- 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.
- 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