Edgebrook Bank, Chicago, IL
Closing Date: May 8, 2015
Failed Bank Information for Edgebrook Bank, Chicago, IL
| Bidder | Deposits Assumed | Transaction Type | Deposit Premium % | Whole Bank Asset (Discount) | Pool 300 Performing Loans | Pool 400 Non-Perf. Loans | Bank-Owned OREO | Subsidiary Owned OREO | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|
| Winning bid and bidder: Republic Bank of Chicago, Oakbrook, IL | All | Whole Bank | 0.00% | ($12,704) | N/A | N/A | Waived option | Waived option | N - 1 |
| Cover Bid: Providence Bank & Trust, South Holland, IL | All | Whole Bank | 0.00% | ($18,841) | N/A | N/A | 65.00% | 65.00% | N - 2 |
| Other | All | Whole Bank | 0.0028% | ($18,411) | N/A | N/A | 47.00% | 73.9% | N - 3 |
| Other | All | P&A with Optional Pools | 0.00% | N/A | 74.25% | Waived Option | Waived option | Waived option | Y |
| Other | All | Whole Bank | 0.00% | ($20,453) | N/A | N/A | 65.00% | 65.00% | N - 4 |
| Other | All | Whole Bank | 0.00% | ($20,962) | N/A | N/A | 65.00% | 65.00% | N - 5 |
| Other | All | P&A with Optional Pools | 0.00% | ($12,995) | N/A | N/A | Waived option | Waived option | N - 6 |
| Other | All | Whole Bank | 0.0028% | ($23,766) | N/A | N/A | 47.00% | 73.9% | Y |
| Other | All | P&A with Optional Pools | 0.00% | ($13,890) | N/A | N/A | Waived option | Waived option | N - 7 |
| Other | All | Whole Bank | 0.00% | ($24,148) | N/A | N/A | 65.00% | 65.00% | N - 8 |
| Other | All | Whole Bank | 0.00% | ($24,736) | N/A | N/A | 65.00% | 65.00% | N - 9 |
| Other | All | Whole Bank | 0.00% | ($27,922) | N/A | N/A | 65.00% | 65.00% | Y |
| Other | All | P&A with Optional Pools | 0.00% | N/A | 63.91% | 50.00% | Waived option | Waived option | N - 10 |
| Other | All | P&A with Optional Pools | 0.00% | N/A | 63.41% | 50.00% | Waived option | Waived option | Y |
| Other | All | P&A with Optional Pools | 0.00% | N/A | 53.80% | Waived Option | Waived option | Waived option | Y |
Conforming Bid Notes:
1- Excludes loans totaling $12.6 million.
2- Excludes loans totaling $9.4 million.
3- Excludes loans totaling $5.4 million.
4- Excludes loans totaling $7.9 million.
5- Excludes loans totaling $6.7 million.
6- Excludes loans totaling $30.6 million.
7- Excludes loans totaling $36.7 million.
8- Excludes loans totaling $3.7 million.
9- Excludes loans totaling $3.1 million.
10- Excludes securities and related accrued interest.
Other Bidder Names & Locations:
Great Southern Bank, Reeds Spring, MO
Providence Bank & Trust, South Holland, IL
Republic Bank of Chicago, Oakbrook, IL
United Fidelity 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.
- 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.