Bid Summary
Valley Bank, Moline, IL
Closing Date: June 20, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | Optional Loan Pool 200 (Performing Residential) (% of BV) | Optional Loan Pool 210 (Non- Performing Residential) (% of BV) | Optional Loan Pool 300 (ADC) (% of BV) | Optional Loan Pool 400 (Performing Commercial RE) (% of BV) | Optional Loan Pool 410 (Non Performing Commercial RE) (% of BV) | Optional Loan Pool 500 (Land) (% of BV) | Optional Loan Pool 600 (Agriculture) (% of BV) | Optional Loan Pool 700 (Performing C&I) (% of BV) | Optional Loan Pool 710 (Non-Performing C&I) (% of BV) | Optional Loan Pool 800 (Consumer) (% of BV) | Optional Loan Pool 900 (Gov't Guaranteed) (% of BV) | Optional Loan Pool 1000 Participation Loans Purchased from Valley Bank Ft. Lauderdale | Optional OREO Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid and Bidder: Great Southern Bank Reeds Springs, MO |
All deposit basic P&A with optional loans pools | 0.00% | N/A | 89.39% | No Bid | 87.84% | 89.01% | No Bid | 78.40% | 89.81% | No Bid | No Bid | 93.57% | No bid | No bid | No bid | N - 1,2 |
| Cover: MidwestOneBank, Iowa City, IA |
All deposit whole bank | 0.21% | $(92,307) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 56.70% | Y |
| Other Bid: | All deposit basic P&A with optional loans pools | 0.00% | N/A | 77.27% | 46.23% | 76.70% | 85.08% | 43.53% | 74.91% | 85.55% | 65.34% | 4.74% | 87.14% | No bid | No bid | No bid | N - 1,2 |
| Other Bid: | All deposit whole bank | 0.00% | ($97,900) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No bid | Y |
| Other Bid: | All deposit whole bank | 0.00% | $(160,000) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No bid | N - 1 |
Conforming Bid Notes:
1- Requests branch closures.
2- Excludes subsidiaries and certain securities, other assets, receivables, and liabilities.
Other Bidder Names & Locations:
Great Southern Bank, Reeds Spring, MO
Stearns Bank, Saint Cloud, MN
The National Bank, Moline, IL
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.
- 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