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Bid Summary
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BankFirst
Sioux Falls, SD
Closing Date: July 17, 2009
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Winning Bidder:
Alerus Financial, National Association, Grand Forks, ND
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Winning Bid:
All deposits P&A – Deposit Premium 0.325%. |
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There were no other bids for the deposits. There were other bids for optional
loan pools.
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Notes:
- The winning bidder’s acquisition of all the deposits and the sales
of the optional loan pools 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.
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