Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Bank Failures

Bid Summary

Midwest Bank and Trust Company, Elmwood Park, IL
Closing Date: May 14, 2010

Bidder Deposits – All or Insured Only Whole Bank or Clean P&A Loss Share or No Loss Share Asset + Premium or - Discount Deposit Premium
Winning: FirstMerit Bank, NA, Akron, OH All Whole Bank Loss Share +2.7% 0.40%
Cover (second place)- FirstMerit Bank, NA, Akron, OH All Whole Bank Loss Share 0.00% 0.40%
Other All Whole Bank Loss Share -1.40% 0.01%
Other All Whole Bank Loss Share -3.40% 0.40%
Other All Whole Bank Loss Share -5.48% 0%
Other All Whole Bank Loss Share -8.12% 0%
Other All Whole Bank Loss Share -8.77% 0%
Other All Whole Bank Loss Share -9.20% 0.43%
Other All Whole Bank Loss Share -9.95% 0%
Other All Whole Bank Loss Share -10.45% 0.50%
Other All Whole Bank Loss Share -14.11% 0%
Other All Whole Bank Loss Share -16.00% 0%
Other All Whole Bank Loss Share -16.10% 0%
Other All Whole Bank Loss Share -16.40% 0%
Other All Whole Bank Loss Share -16.80% 0%
Other All Whole Bank Loss Share -17.70% 0%
Other All Whole Bank Loss Share -$168,900,000 0%

Other Bidder Names:

FirstMerit Bank, NA, Akron, OH
Ford Group Bank, NA, Dallas, TX
Harris National Association, Chicago, IL
Hinsdale Bank & Trust Co, Hinsdale, IL
NAFH National Bank, Jacksonville, FL
NBH National Bank, New York, NY
U.S. Bank National Association, Cincinnati, OH

Notes:

  • The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bids. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
  • 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

Back to top

Last Updated: November 20, 2020