The First National Bank of Lindsay, Lindsay, OK
Closing Date: October 18, 2024
Failed Bank Information for The First National Bank of Lindsay, Lindsay, OK
Purchase and Assumption Agreement (P&A) Bids
| Bidder | Winning and Cover Bid | Type of Transaction | Deposits Passing | Deposit Premium | Asset Discount $(000) | Conforming Bid |
|---|---|---|---|---|---|---|
| First Bank & Trust Co. Duncan, OK | Winning Bid | Basic P&A | Insured Deposits | 6.67% | N/A | Yes |
| Other | N/A | Basic P&A | Insured Deposits | 0.50% | N/A | No1 |
| Other | N/A | Basic P&A | All Deposits | 5.02% | N/A | Yes |
| Other | N/A | Basic P&A | All Deposits | 7.51% | N/A | Yes |
| Other | N/A | Basic P&A | All Deposits | 1.01% | N/A | Yes |
| Other | N/A | Basic P&A | All Deposits | 6.67% | N/A | Yes |
| Other | N/A | Basic P&A | Insured Deposits | 0.86% | N/A | Yes |
Conforming Bid Notes:
1This bid excludes certain deposit accounts.
All Bidder Names and Locations:
Bank of Commerce, Duncan, Oklahoma
F&M Bank, Edmond, Oklahoma
First Bank & Trust Co., Duncan, Oklahoma
Gateway First Bank, Jenks, Oklahoma
Shamrock Bank, NA, Coalgate, Oklahoma
Notes:
- Bidders can submit multiple bids.
- The winning bidder’s acquisition of the insured deposits was the least costly resolution compared to a liquidation alternative.
- The cover bid is: a) less costly than liquidation, b) the least costly bid after excluding all bids submitted by the winning bidder, and c) identified one year after failure.
- 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.