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Bank Failures

Bid Summary for The Freedom State Bank, Freedom, OK

The Freedom State Bank, Freedom, OK
Closing Date: June 27, 2014

Failed Bank Information for The Freedom State Bank, Freedom, OK

BidderType of TransactionDeposit Premium %Asset Premium/(Discount) $(000)100 - Performing Loans (% of BV)200 - Non-Performing Loans (% of BV)Bid on Bank PremisesConforming Bid
Winning bid and bidder: Alva State Bank & Trust Company, Alva, OKAll Deposit Basic P&A with Optional Pools1.00%0%98.00%50.00%YesYes
Cover Bid: NoneN/AN/AN/AN/AN/AN/AN/A
Other Bid:All Deposit Basic P&A with Optional Pools1.00%$098.00%No BidYesYes
Other Bid:All Deposit Whole Bank1.00%$(3,704)N/AN/AYesYes

P&A with optional loan pool bids include separate pool pricing for each selected pool.

Other Bidder Names:

Alva State Bank & Trust Company, Alva, OK
Bank of Commerce, Duncan, OK

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.


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Last Updated: December 22, 2021