Washington Federal Bank for Savings, Chicago, IL
Closing Date: December 15, 2017
|Bidder||Type of Transaction||Deposit Premium %||Conforming Bid|
|Winning Bid: Royal Savings Bank, Chicago, IL||Insured Deposit Basic P&A||1.26%||Yes|
|Cover Bid: First Savings Bank of Hegewisch, Chicago, IL||Insured Deposit Basic P&A||1.05%||Yes|
|Other Bid:||All Deposit Basic P&A||-6.15%||No - 1|
|Other Bid:||All Deposit Basic P&A||-0.62%||No - 1|
|Other Bid:||All Deposit Basic P&A||1.05%||Yes|
|Other Bid:||Insured Deposit Basic P&A||1.00%||Yes|
|Other Bid:||Insured Deposit Basic P&A||1.01%||Yes|
Conforming Bid Note:
1- A negative bid for a deposit premium is considered non-conforming.
Other Bidder Names & Locations:
First-Citizens Bank & Trust Company, Raleigh, NC
First Savings Bank of Hegewisch, Chicago, IL
Republic Bank of Chicago, Oak Brook, IL
- The winning bidder's acquisition of the insured 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.
- The cover (second best) bid is the bid that: a. Is less costly then 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 and cover bids.
- 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