Pulaski Savings Bank, Chicago, Illinois
Closing Date: January 17, 2025
Failed Bank Information for Pulaski Savings Bank, Chicago, IL
Purchase and Assumption Agreement (P&A) Bids
| Bidder | Winning and Cover Bid | Type of Transaction | Deposits Passing | Deposit Premium | SFR Loan Pool (% of BV) | Participations Loan Pool (% of BV) | Conforming Bid (Y/N) |
|---|---|---|---|---|---|---|---|
| Millennium Bank, Des Plaines, IL | Winning Bid | Basic P&A | All Deposits | 4.61% | 88.42% | 87.57% | Y |
| Other | N/A | Basic P&A | All Deposits | 1.41% | 85.20% | 46.60% | Y |
| Other | N/A | Basic P&A | All Deposits | 1.41% | 85.20% | No Bid | Y |
| Other | N/A | Basic P&A | All Deposits | 1.41% | 87.00% | 47.00% | N1 |
| Other | N/A | Basic P&A | All Deposits | 1.41% | 88.40% | No Bid | N2 |
| Other | N/A | Basic P&A | All Deposits | 0.00% | 57.40% | 57.40% | Y |
| Other | N/A | Basic P&A | All Deposits | 0.00% | 60.00% | 60.00% | Y |
Conforming Bid Notes:
1Excludes certain deposits, places a ceiling on post-failure rent, includes an option to reject certain loan servicing agreements, and provides for other technical modifications.
2Excludes certain loans and deposits, places a ceiling on post-failure rent, includes an option to reject certain loan servicing agreements, and provides for other technical modifications.
Bidder Names & Locations:
First Bank and Trust Company of Illinois, Palatine, IL
Millennium Bank, Des Plaines, IL
Providence Bank & Trust, South Holland, IL
Servbank, sb, Oswego, IL
Notes:
- Bidders can submit multiple bids.
- The winning bidder’s acquisition of 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 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 and cover bids.