Bid Summary
Heartland Tri-State Bank, Elkhart, KS
Closing Date: July 28, 2023
| Bidder | Winning and Cover Bid |
Type of Transaction |
Deposit Premium |
Asset Premium/ (Discount) ($000) |
Commercial Shared-Loss Tranche 1 |
Conforming Bid |
|---|---|---|---|---|---|---|
| Dream First Bank, National Association Syracuse, KS |
Winning Bid | All Deposits Whole Bank with Shared-Loss | 2.50% | ($5,000) | 95% | Yes |
| Other | N/A | All Deposits Whole Bank | 0.00% | ($17,600) | N/A | Yes |
| Other | N/A | All Deposits Whole Bank with Shared-Loss | 2.50% | ($15,000) | 75% | Yes |
| Other | N/A | All Deposits Whole Bank with Shared-Loss | 2.00% | ($14,000) | 95% | Yes |
| Other | N/A | All Deposits Whole Bank with Shared-Loss | 0.00% | ($15,375) | 70% | Yes |
| Other | N/A | All Deposits Whole Bank with Shared-Loss | 0.00% | ($15,350) | 95% | No (1) |
| Other | N/A | All Deposits Whole Bank with Shared-Loss | 0.00% | ($14,400) | 95% | Yes |
| Other | N/A | All Deposits Whole Bank | 1.00% | ($29,638) | N/A | Yes |
| Other | N/A | All Deposits Whole Bank | 0.00% | ($35,000) | N/A | Yes |
| Other | N/A | All Deposits Whole Bank with Shared-Loss | 0.00% | ($50,000) | 90% | Yes |
1. The first $1 million in losses are covered by the bidder.
Other Bidder Names & Locations:
Centennial Bank, Conway, AR
Dream First Bank, National Association, Syracuse, KS
Equity Bank Andover, KS
Security State Bank, Scott City, KS
SpiritBank, Tulsa, OK
State Bank of Texas, Dallas, TX
Stockmens Bank, Colorado Springs, CO
Notes:
- Bidders can submit multiple bids.
- The winning bidder’s acquisition of 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.
- There is no linkage between bidder names and bids, except in the case of the winning and cover bids. There is no cover bid.
- 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.