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Bid Summary
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1st Regents Bank
Andover, MN
Closing Date: January 18, 2013
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| Bidder |
Type of Transaction |
Deposit Premium/(Discount) % |
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:
First Minnesota Bank, Minnetonka, MN
| All deposit whole bank |
2.00% |
$(11,289) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
No |
N/A |
Cover:
omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
Omitted from this disclosure |
| Other Bid |
All deposit whole bank with loss share |
0.00% |
$(5,275) |
N/A |
N/A |
N/A |
80% |
80% |
N/A |
No |
Yes |
N/A |
| Other Bid |
All deposit whole bank with loss share |
0.00% |
$(11,250) |
N/A |
N/A |
N/A |
80% |
80% |
N/A |
No |
Yes |
N/A |
| Other Bid |
All deposit whole bank with loss share |
0.00% |
$(11,900) |
N/A |
N/A |
N/A |
80% |
80% |
N/A |
No |
Yes |
N/A |
| Other Bid |
All deposit whole bank |
0.00% |
$(12,078) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
No |
N/A |
| Other Bid |
All deposit whole bank |
0.00% |
$(15,286) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
No |
N/A |
| Other Bid |
All deposit whole bank with loss share |
0.00% |
$(15,932) |
N/A |
N/A |
N/A |
0% |
80% |
N/A |
No |
Yes |
N/A |
| Other Bid |
All deposit whole bank |
0.00% |
$(16,520) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
Yes |
N/A |
| Other Bid |
All deposit whole bank with loss share |
0.00% |
$(19,014) |
N/A |
N/A |
N/A |
0% |
80% |
N/A |
No |
No |
N/A |
| Other Bid |
All deposit whole bank |
0.00% |
$(21,890) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
Yes |
N/A |
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Other Bidder Names:
- 21st Century Bank, Loretto, MN
- Central Bank; Stillwater, MN
- CorTrust Bank NA; Mitchell, SD
- First National Bank of Deerwood, Deerwood, MN
- First Resource Bank, Savage, MN
- Stearns Bank NA, Saint Cloud, MN
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.
- 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.
- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html.
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