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Bank Failures

Bid Summary

Louisa Community Bank, Louisa, KY
Closing Date: October 25, 2019

Bidder Type of
Transaction		 Deposit Premium % Asset Premium/ 
(Discount) $(000)		 Optional Loan
Pool (Performing Loans)
(% of BV)		 Optional Loan
Pool (Non-Performing) 
(% of BV)		 Optional OREO
Pool (% of BV)		 Conforming Bid
Winning Bid: Kentucky Farmers Bank Corporation, Catlettsburg, KY All deposit Whole Bank  1.73% ($3,804) N/A N/A No Bid Yes
Cover Bid: United Fidelity Bank, fsb, Evansville, IN Insured deposit Basic P&A with Optional Loan Pools 0.00% N/A 82.20% No Bid No Bid Yes
Other Bid: All deposit Whole Bank  0.00% ($5,818) N/A N/A No Bid Yes
Other Bid: All deposit Whole Bank  0.00% ($6,565) N/A N/A No Bid Yes
Other Bid: All deposit Whole Bank  0.00% ($6,600) N/A N/A 35.00% Yes
Other Bid: All deposit Whole Bank  0.00% ($6,915) N/A N/A No Bid Yes
Other Bid: Insured deposit Whole Bank  0.00% ($7,500) N/A N/A 60.00% Yes
Other Bid: Insured deposit Whole Bank 1.00% ($3,804) N/A N/A 25.00% Yes
Other Bid: Insured deposit Whole Bank 1.00% ($3,804) N/A N/A No Bid Yes
Other Bids: All deposit Basic P&A with Optional Loan Pools 0.00% N/A 70.85% No Bid No Bid Yes

Other Bidder Names & Locations:

City National Bank of West Virginia, Charleston, WV
Field & Main Bank, Henderson, KY
First-Citizens Bank and Trust Company, Raleigh, NC
First State Bank, Winchester, OH

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.
  • 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 https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html

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Last Updated: November 20, 2020