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Bank Failures

Bid Summary for Columbia Savings Bank, Cincinnati, OH

Columbia Savings Bank, Cincinnati, OH
Closing Date: May 23, 2014

Failed Bank Information for Columbia Savings Bank, Cincinnati, OH

BidderType of TransactionDeposit Premium %Asset Premium/ (Discount) $(000) (a)Optional Loan Pool (% of BV) (b)Optional Loan Pool (% of BV) (b)Optional Loan Pool (% of BV) (b)Optional Loan Pool (% of BV) (b)Optional Loan Pool (% of BV) (b)Optional Loan Pool (% of BV) (b)Optional OREO Pool (% of BV) (a)(b)(c)Conforming Bid
Winning Bid: 
United Fidelity Bank, fsb, Evansville, IN
All deposit whole bank0.00 %$(4,032)N/AN/AN/AN/AN/AN/ANo BidYes
Cover Bid: 
Ohio Valley Bank, Henderson, KY
All Deposit Whole Bank0.00%$(6,900)N/AN/AN/AN/AN/AN/ANo BidYes
Other Bid:All deposit Whole Bank0.00%$(4,032)N/AN/AN/AN/AN/AN/A68.60%Yes
Other Bid:All Deposit Basic P&A0.52%N/AN/AN/AN/AN/AN/AN/ANo BidNo - 1
Other Bid:All Deposit Whole Bank0.00%$(7,825)N/AN/AN/AN/AN/AN/A15.00%Yes
Other Bid:All Deposit Whole Bank0.00%$(9,455)N/AN/AN/AN/AN/AN/A25.00%Yes
Other Bid:All Deposit Whole Bank0.00%$(9,455)N/AN/AN/AN/AN/AN/ANo BidYes
Other Bid:All Deposit Whole Bank0.00%$(10,749)N/AN/AN/AN/AN/AN/A64.00%No - 2

Conforming Bid Notes:

1- Requests an all deposit basic P&A transaction excluding most assets, which was not offered to bidders.
2- Bidder's Board of Directors resolution did not match bid contents.
 

Other Bidder Names & Locations:

CenterBank, Milford, OH
Foundation Bank, Cincinnati, OH
The First Capital Bank of Kentucky, Louisville, KY
United Fideilty Bank, fsb, Evansville, IN

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 Failed Financial Institution Bid Disclosure Policy

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Last Updated: August 3, 2021