Syringa Bank, Boise, ID
Closing Date: January 31, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) (1) | Optional Loan Pool (Single Family) (% of BV) (2) | Optional Loan Pool (CRE) (% of BV) (2) | Optional Loan Pool (C&I) (% of BV) (2) | Optional Loan Pool (Gov't Guaranteed) (% of BV) (2) | Optional OREO Pool (% of BV) (3) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|
| Winning Bid and Bidder:
Sunwest Bank, Irvine, CA |
All deposit whole bank | 0.75% | $(8,697) | N/A | N/A | N/A | N/A | 71.41% | No - 1 |
| Cover:
Northwest Bank Boise, ID |
All deposit whole bank | 0.00% | $(20,284) | N/A | N/A | N/A | N/A | 50.00% | No - 2 |
| Other Bid: | All deposit whole bank | 0.75% | $(5,282) | N/A | N/A | N/A | N/A | 71.41% | No - 1,3 |
| Other Bid: | All deposit whole bank | 0.75% | $(6,699) | N/A | N/A | N/A | N/A | 71.41% | No - 1,4 |
| Other Bid: | All deposit whole bank | 0.75% | $(7,280) | N/A | N/A | N/A | N/A | 71.41% | No - 1,5 |
| Other Bid: | All deposit whole bank | 0.75% | $(7,280) | N/A | N/A | N/A | N/A | No Bid | No - 1,5 |
| Other Bid: | All deposit whole bank | 0.00% | $(29,152) | N/A | N/A | N/A | N/A | 80.00% | No - 6 |
| Other Bid: | All deposit basic P&A with optional loans pools | 0.00% | N/A | N/A | 78.38% | 74.06% | 75.49% | No Bid | No - 7 |
| Other Bid: | All deposit whole bank | 0.00% | $(35,284) | N/A | N/A | N/A | N/A | 30.00% | No - 7 |
Conforming Bid Notes:
1- Consolidate two of the Bank's leased branches.
2- Consolidate five of the Bank's leased branches.
3- Excludes $10.6 million in loans.
4- Excludes $6.4 million in loans.
5- Excludes $4.2 million in loans.
6- Consolidate
four of the Bank's leased branches, repudiate four leases, and acquire the Lewiston branch.
7- Close three of the Bank's leased branches immediately and close two branches 90 days after acquisition.
Other Bidder Names & Locations:
Sunwest Bank, Irvine, CA
Banner Bank, Walla Walla, WA
Northwest Bank, Boise, ID
Notes:
- (1) Whole Bank P&A bids have one discount amount. The OREO is bid separately
- (2) P&A with optional loan pool bids include separate pool pricing for each selected pool.
- (3) OREO Bids less than the Optional OREO Pool Reserve Price were not factored into the total bid cost
- 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 are more bids than bidders because one or more bidders submitted more than one bid.
- 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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html