Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Bank Failures

Bid Summary for The Bank of Union, El Reno, OK

The Bank of Union, El Reno, OK
Closing Date: January 24, 2014

Failed Bank Information for The Bank of Union, El Reno, OK

BidderType of TransactionDeposit Premium %Asset Premium/(Discount) $(000)Required Pool 40Loan Pool 100Loan Pool 101Loan Pool 200Loan Pool 300Loan Pool 400Loan Pool 500Loan Pool 501Loan Pool 600Loan Pool 601Loan Pool 700Loan Pool 800Loan Pool 900Conforming Y/N
Winning bid and bidder: BancFirst, Oklahoma City, OKAll Deposit P&A Bid with Optiional Loan Pools0.00%N/A97.50%95.60%79.20%96.80%92.50%80.40%98.00%N/A88.90%50.00%88.90%50.00%97.80%Y
Cover: 
MidFirst Bank, Oklahoma City, OK
All Deposit P&A Bid with Optiional Loan Pools1.60%N/A100.50%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AY
Other Bid:  All Deposit Whole Bank0.00%$(82,770)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AY
Other Bid:  All Deposit Whole Bank0.00%$(137,749)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AY
Other Bid:  All Deposit P&A Bid with Optional Loan Pools0.00%N/A73.84%44.20%N/A73.84%63%N/A37.22N/A56.41N/A38.97%50.00%72.10%Y
Other Bid:  All Deposit P&A Bid with Optional Loan Pools0.00%N/A74.20%44.96%39.80%74.20%63.88%22.60%38.08%N/A50.00%N/A39.80%50.00%72.48%Y
Other Bid:  All Deposit P&A Bid with Optional Loan Pools0.00%N/A97.50%95.60%79.20%96.80%92.80%80.40%98.00%21.80%89.40%33.00%88.90%50.00%97.80%Y
Other Bid:  All Deposit P&A Bid with Optional Loan Pools0.00%N/A100.00%90.10%N/A85.50%87.00%89.90%44.00%N/A42.00N/A84.00%N/A91.10%Y
Other Bid:  Insured Deposit Only P&A Bid with Optiional Loan Pools0.00%N/A100.00%90.10%N/A85.50%87.00%89.90%44.00%N/A42.00N/A84.00%N/A91.10%Y

Other Bidder Names:

BancFirst, Oklahoma City, OK
First Bank & Trust Co., Duncan,OK
Republic Bank & Trust Co., Louisville, KY

Notes:

  • (1) Whole Bank P&A bids have one discount amount. The OREO is bid separately
    (2) P&A with optional loan pool bids include separate pool pricing for each selected pool.
    (3) OREO Bids less than the Optional OREO Pool Reserve Price were not factored into the total bid cost
  • 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 are more bids than bidders because one or more bidders submitted more than one bid.
  • The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid and cover bid.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.


Back to top

Last Updated: April 19, 2022