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Bank Failures

Bid Summary for Slavie Federal Savings Bank, Bel Air, MD

Slavie Federal Savings Bank, Bel Air, MD
Closing Date: May 30, 2014

Failed Bank Information for Slavie Federal Savings Bank, Bel Air, MD

BidderType of TransactionDeposit Premium %Asset Premium/(Discount) $(000)Optional Loan Pool 100 SFR & HELOC (% of BV)Optional Loan Pool 200 HELOC (% of BV)Optional Loan Pool 300 C&I (% of BV)Optional Loan Pool 400 CRE, ADC, Land (% of BV)Optional Loan Pool 500 Non-Perf C&I (% of BV)Optional Loan Pool 600 Non-Perf CRE Loans (% of BV)Optional Loan Pool 700 Non-Perf Land & ADC (% of BV)Optional ORE Pool (% of BV)Conforming Bid
Winning Bid and Bidder:
Bay Bank, FSB, Lutherville, MD
All Deposit Basic P&A with Optional Pools0.20%$092.10%92.00%91.80%94.00%82.40%84.10%84.50%No BidYes
Cover Bid:
The Bank of Glen Burnie, Glen Burnie, MD
All Deposit Whole Bank0.00%$(29,830)N/AN/AN/AN/AN/AN/AN/ANo BidYes
Other Bid:All Deposit Basic P&A with Optional Pools0.20%$091.80%91.60%91.50%93.60%82.10%83.70%84.10%55.00%Yes
Other Bid:All Deposit Whole Bank0.20%$(9,725)N/AN/AN/AN/AN/AN/AN/ANo BidYes
Other Bid:All Deposit Whole Bank0.20%$(10,075)N/AN/AN/AN/AN/AN/AN/A55.00%Yes
Other Bid:All Deposit Basic P&A with Optional Pools0.20%$092.90%92.10%92.30%94.00%No BidNo BidNo BidNo BidYes
Other Bid:All Deposit Whole Bank0.20%$(7,198)N/AN/AN/AN/AN/AN/AN/ANo BidNo - 1
Other Bid:All Deposit Whole Bank0.00%$(25,992)N/AN/AN/AN/AN/AN/AN/A60.00%No - 2
Other Bid:All Deposit Whole Bank0.88%$(40,278)N/AN/AN/AN/AN/AN/AN/A50.00%Yes
Other Bid:All Deposit Whole Bank0.00%$(39,039)N/AN/AN/AN/AN/AN/AN/A60.00%Yes

Conforming Bid Notes:

1- Excludes three non-performing loan pools totaling $12.7 million.
2- Excludes loans totaling $18.4 million.

Other Bidder Names & Locations:

Bay Bank, FSB, Lutherville, MD
Howard Bank, Ellicott, MD
Republic Bank and Trust Company, Louisville, KY

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 16, 2021