Each depositor insured to at least $250,000 per insured bank



Home > Industry Analysis > Failed Banks > Failed Bank List > Failed Bank Information > Bid summary



 
 
Bid Summary

Irwin Union Bank and Trust Company
Columbus, IN
Closing Date: September 18, 2009



Winning Bidder: First Financial Bank, National Association, Hamilton, OH

Winning Bid: All deposits, modified whole bank with loss share – Asset Discount of $544,101,862; Deposit Premium 1%.

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.

- Only one conforming bid was received for this institution.


















Last Updated 07/14/2010 cservicefdicdal@fdic.gov