First Federal Bank, Lexington, KY
Closing Date: April 19, 2013
Failed Bank Information for First Federal Bank, Lexington, KY
| 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: Your Community Bank, New Albany, IN | All deposit whole bank | 0.00% | $ (5,850) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Cover: First Southern National Bank; Lancaster, KY | All deposit whole bank | 0.00% | $(12,853) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Other Bid: | All deposit whole bank | 0.00% | $ (12,975) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Other Bid: | All deposit whole bank | 0.20% | $ (13,029) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 1 | N/A |
| Other Bid: | All deposit whole bank | 0.20% | $ (13,029) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Other Bid: | All deposit whole bank | 0.00% | $ (16,746) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Other Bid: | All deposit whole bank | 0.00% | $ (23,950) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Other Bid: | All deposit whole bank | 0.00% | $ (25,275) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Other Bid: | All deposit whole bank | 0.00% | $ (43,087) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 2,3 | N/A |
Conforming Bid Notes:
1- Offers to purchase three specific OREO properties for $500,000.
2- Conditioned on acceptance as winning bid by 5 PM on April 15, 2013 or bid will be rescinded.
3- Requests to close any of the bank branches after 30 days.
Other Bidder Names & Locations:
- First Merchants Bank N.A., Muncie, IN
- First Southern National Bank, Lancaster, KY
- Forcht Bank, N.A., Lexington, KY
- Ohio Valley Financial Group, Henderson, KY
- Republic Bank & Trust Company, Louisville, KY
- The First Capital Bank of Kentucky, Louisville, KY
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 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 the cover bid.
- For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.