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Bank Failures

Bid Summary for Washington Federal Bank for Savings, Chicago, IL

Washington Federal Bank for Savings, Chicago, IL
Closing Date: December 15, 2017

Failed Bank Information for Washington Federal Bank for Savings, Chicago, IL

BidderType of TransactionDeposit Premium %Conforming Bid
Winning Bid: Royal Savings Bank, Chicago, ILInsured Deposit Basic P&A1.26%Yes
Cover Bid: First Savings Bank of Hegewisch, Chicago, ILInsured Deposit Basic P&A1.05%Yes
Other Bid:All Deposit Basic P&A-6.15%No - 1
Other Bid:All Deposit Basic P&A-0.62%No - 1
Other Bid:All Deposit Basic P&A1.05%Yes
Other Bid:Insured Deposit Basic P&A1.00%Yes
Other Bid:Insured Deposit Basic P&A1.01%Yes

 

Conforming Bid Note:

1- A negative bid for a deposit premium is considered non-conforming.

Other Bidder Names & Locations:

First-Citizens Bank & Trust Company, Raleigh, NC
First Savings Bank of Hegewisch, Chicago, IL
Republic Bank of Chicago, Oak Brook, IL

Notes:

  • The winning bidder's acquisition of the insured 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.

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Last Updated: May 28, 2021