Community Security Bank, New Prague, MN
Closing Date: July 23, 2010
Failed Bank Information for Community Security Bank, New Prague, MN
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | SF Loss Share Tranche 1 | SF Loss Share Tranche 2 | SF Loss Share Tranche 3 | Commercial Loss Share Tranche 1 | Commercial Loss Share Tranche 2 | Commercial Loss Share Tranche 3 | Value Appreciation Instrument | Conforming Bid | Linked |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid and Bidder: Roundbank, Waseca, MN | All deposit whole bank | 0.89% | $(22,247) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Cover (second place): First Minnesota Bank, Minnetonka, MN | All deposit whole bank | 0.89% | $(1,950) | N/A | N/A | N/A | N/A | N/A | N/A | No | No | N/A |
| Other Bid: | All deposit whole bank with loss share | 0.25% | $(10,832) | 80% | 80% | N/A | 80% | 80% | N/A | Yes | Yes | N/A |
| Other Bid: | Insured Only Deposit whole bank with loss share | 0.25% | $(15,000) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
Other Bidder Names & Locations:
Central Bank, Stillwater, MN
Wells Federal Bank, FSB, Wells, 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. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement. If any bids were received that would have been more costly than liquidation they have been excluded from this summary.
- 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.
- For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.