Bid Summary
Northern Star Bank, Mankato, MN
Closing Date: December 19, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | Optional Loan Pool 100 -ACD Loans (% of BV) | Optional Loan Pool 200-Comm. & Ind. (% of BV) | Optional Loan Pool 300-Comm. Real Estate (% of BV) | Optional Loan Pool 400-Consumer (% of BV) | Optional Loan Pool 500-SFR (% of BV) | Optional Loan Pool 510-SFR 2nd & 3rd Lien (% of BV) | Optional Loan Pool 600-Agriculture (% of BV) | Optional Loan Pool 1000-Gov't Guar. (% of BV) | Optional OREO Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning bid and bidder: BankVista, Sartell, MN | All deposit whole bank | 0.00% | $(2,450) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Cover Bid: Sentry Bank, St. Joseph, MN | All deposit whole bank | 0.00% | $ (2,995) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Other | All deposit whole bank | 1.23% | $(3,439) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 32.50% | Yes |
| Other | All deposit basic P&A with optional loans pools | 0.25% | N/A | 88.54% | 77.53% | 81.27% | 56.38% | 88.06% | 50.96% | 69.14% | 66.37% | No Bid | Yes |
Whole Bank P&A bids have one discount amount. The OREO is bid separately.
P&A with optional loan pool bids include separate pool pricing for each selected pool.
Bids less than the optional OREO pool reserve price were not factored into the total bid cost.
Other Bidder Names:
Cenbank, Buffalo Lake, MN
Roundbank, Waseca, 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 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