First United Bank, Crete, IL
Closing Date: September 28, 2012
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | SF Loss Share Tranche 1 | SF Loss Share Tranche 2 | SF Loss Share Tranche 3 | Commercial Loss Share Tranche 1 | Commercial Loss Share Tranche 2 | Commercial Loss Share Tranche 3 | Value Appreciation Instrument | Conforming Bid | Linked |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning bid and bidder: Old Plank Trail Community Bank, N.A., New Lenox, IL | All deposit whole bank with loss share | 0.60% | $(28,700) | 80% | 80% | N/A | 80% | 80% | N/A | Yes | No - 1,2 | No |
| Cover: Bank of the Ozarks, Little Rock, AR | All deposit whole bank with loss share | 0.00% | $(39,895) | 80% | 80% | N/A | 80% | 80% | N/A | No | No - 3 | No |
| Other bid | All deposit whole bank with loss share | 0.60% | $(27,300) | 80% | 80% | N/A | 80% | 80% | N/A | Yes | No - 1,2 | No |
| Other bid | All deposit whole bank with loss share | 0.00% | $(33,800) | 80% | 80% | N/A | 80% | 80% | N/A | No | No - 3,4 | No |
| Other bid | All deposit whole bank with loss share | 0.00% | $(37,824) | N/A | N/A | N/A | 80% | 80% | N/A | No | No - 4 | No |
| Other bid | All deposit whole bank with loss share | 0.00%% | $(43,900) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | No |
| Other bid | All deposit whole bank with loss share | 0.00% | $(48,607) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | Yes |
| Other bid | All deposit whole bank with loss share | 0.00% | $(52,107) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | No |
| Other bid | All deposit whole bank | 0.00% | $(95,000) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | Yes |
Conforming Bid Notes:
1- Includes 80 percent loss sharing on both Single-Family and Commercial Shared Loss Agreements and inluded the Optional Loan Pool under loss share.
2- Excludes loans totaling $15.2 million in loans.
3- Includes 80 percent loss sharing
on both Single-Family and Commercial Shared Loss Agreements.
4- Excludes $19.2 millioin of OREO.
Other Bidder Names:
Bank of the Ozarks, Little Rock, AR
Heartland Bank and Trust Company, Bloomington, IL
Old Plank Trail Community Bank, N.A., New Lenox, IL
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.
- The Other Bidder Names and the Other Bids are in random order. 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 https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html