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Bank Failures

Bid Summary for The National Republic Bank of Chicago, Chicago, IL

The National Republic Bank of Chicago, Chicago, IL
Closing Date: October 24, 2014

Failed Bank Information for The National Republic Bank of Chicago, Chicago, IL

BidderType of TransactionDeposit Premium %Asset Premium/ (Discount) $(000)100 Perf ADC (% of BV)150 Non- Perf ADC (% of BV)200 Perf C&I (% of BV)250 Non-Perf C&I (% of BV)300 Perf CRE (% of BV)350 Non-Perf CRE (% of BV)400 All Consumer (% of BV)500 Perf SFR (% of BV)550 Non-Perf SFR (% of BV)700 All Land (% of BV)900 Bank Stock Loans (% of BV)351 Non-Perf CRE (% of BV)OREO (% of BV)Branch OptionConforming Bid
Winning bid and bidder: State Bank of Texas, Dallas, TXAll deposit basic P&A with optional loan pools0.00%N/A85.22%38.22%72.98%47.08%82.78%N/A100.00%75.90%30.97%44.86%17.11%WaiveWaiveYesYes
Cover Bid: Republic Bank & Trust Company, Louisville, KYAll deposit basic P&A with optional loan pools0.72%N/A65.50%27.70%19.50%5.50%81.50%59.50%45.50%75.50%52.50%84.50%20.50%WaiveWaiveWaiveYes
Other Bid:  All deposit whole bank0.00%($198,329)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 1
Other Bid:  All deposit basic P&A with optional loan pools0.00%N/A83.12%29.42%69.14%39.55%80.34%N/A100.00%72.47%21.15%37.01%5.32%WaiveWaiveYesYes
Other Bid:  All deposit basic P&A with optional loan pools0.00%N/A83.12%29.42%69.14%39.55%80.34%N/A100.00%72.47%21.15%37.01%5.32%Waive50.00%YesYes
Other Bid:  All deposit basic P&A with optional loan pools0.00%N/A65.50%27.70%19.50%5.50%81.50%59.50%45.50%75.50%52.50%84.50%20.50%WaiveWaiveWaiveYes
Other Bid:  All deposit basic P&A with optional loan pools0.00%N/A62.42%24.62%16.42%2.42%78.42%N/A42.42%72.42%49.42%81.42%17.42%WaiveWaiveWaiveYes
Other Bid:  All deposit whole bank0.00%($76,462)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 2
Other Bid:  All deposit whole bank0.00%($80,535)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 3
Other Bid:  All deposit whole bank0.00%($84,535)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 4
Other Bid:  All deposit whole bank0.00%($83,535)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 5
Other Bid:  All deposit whole bank0.00%($87,535)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 6
Other Bid:  All deposit whole bank0.00%($88,535)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 6
Other Bid:  All deposit whole bank0.00%($87,535)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 7
Other Bid:  All deposit whole bank0.00%($91,535)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveYesNo - 8
Other Bid:  All deposit basic P&A with optional loan pools0.00%N/A83.12%29.42%69.14%39.55%80.34%47.25%100.00%72.47%21.15%37.01%5.32%WaiveWaiveYesYes
Other Bid:  All deposit basic P&A with optional loan pools0.00%N/A83.12%29.42%69.14%39.55%80.34%47.25%100.00%72.47%21.15%37.01%5.32%Waive50.00%YesYes
Other Bid:  All deposit whole bank0.00%($278,480)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveWaiveYes
Other Bid:  All deposit basic P&A with optional loan pools0.00%N/A80.75%N/A57.11%N/A63.87%N/A58.76%58.37 %N/AN/AN/AWaiveWaiveYesYes
Other Bid:  All deposit basic P&A with optional loan pools0.00%N/A80.75%N/A57.11%N/A63.87%N/A58.76%58.37 %N/A5.45%4.71%WaiveWaiveWaiveYes
Other Bid:  Insured deposit whole bank0.00%($324,693)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveWaiveNo - 9
Other Bid:  All deposit whole bank0.00%($324,693)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveWaiveNo - 9
Other Bid:  Insured deposit whole bank0.00%($326,693)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveWaiveNo - 9
Other Bid:  All deposit whole bank0.00%($326,693)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWaiveWaiveNo - 9
Other Bid:  All deposit whole bank0.00%($430,000)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A60.00%WaiveNo - 9

Conforming Bid Notes:

1- Excludes loans totaling $171.8 million.
2- Excludes loans totaling $429.3 million.
3- Excludes loans totaling $424.5 million.
4- Excludes loans totaling $414.6 million.
5- Excludes loans totaling $415.9 million.
6- Excludes loans totaling $406.1 million.
7- Excludes loans totaling $409.0 million.
8- Excludes loans totaling $399.2 million.
9- Requests several modifications to the terms of Purchase and Assumptions Agreement.

Other Bidder Names:

Beal Bank SSB, Plano, TX
First-Citizens Bank & Trust, Raleigh, NC
Republic Bank & Trust Co., Louisville, KY
Republic Bank of Chicago, Chicago, IL
State Bank of Texas, Dallas, TX

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 and the cover 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