Louisa Community Bank, Louisa, KY
Closing Date: October 25, 2019
Failed Bank Information for Louisa Community Bank, Louisa, KY
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/ (Discount) $(000) | Optional Loan Pool (Performing Loans) (% of BV) | Optional Loan Pool (Non-Performing) (% of BV) | Optional OREO Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|
| Winning Bid: Kentucky Farmers Bank Corporation, Catlettsburg, KY | All deposit Whole Bank | 1.73% | ($3,804) | N/A | N/A | No Bid | Yes |
| Cover Bid: United Fidelity Bank, fsb, Evansville, IN | Insured deposit Basic P&A with Optional Loan Pools | 0.00% | N/A | 82.20% | No Bid | No Bid | Yes |
| Other Bid: | All deposit Whole Bank | 0.00% | ($5,818) | N/A | N/A | No Bid | Yes |
| Other Bid: | All deposit Whole Bank | 0.00% | ($6,565) | N/A | N/A | No Bid | Yes |
| Other Bid: | All deposit Whole Bank | 0.00% | ($6,600) | N/A | N/A | 35.00% | Yes |
| Other Bid: | All deposit Whole Bank | 0.00% | ($6,915) | N/A | N/A | No Bid | Yes |
| Other Bid: | Insured deposit Whole Bank | 0.00% | ($7,500) | N/A | N/A | 60.00% | Yes |
| Other Bid: | Insured deposit Whole Bank | 1.00% | ($3,804) | N/A | N/A | 25.00% | Yes |
| Other Bid: | Insured deposit Whole Bank | 1.00% | ($3,804) | N/A | N/A | No Bid | Yes |
| Other Bids: | All deposit Basic P&A with Optional Loan Pools | 0.00% | N/A | 70.85% | No Bid | No Bid | Yes |
Other Bidder Names & Locations:
City National Bank of West Virginia, Charleston, WV
Field & Main Bank, Henderson, KY
First-Citizens Bank and Trust Company, Raleigh, NC
First State Bank, Winchester, OH
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 cover (second best) bid is the bid that: a. Is less costly then 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 and cover bids.
- There may be 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.