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Bid Summary
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SCB Bank
Shelbyville, IN
Closing Date: February 10, 2012
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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 Merchants Bank, National Association, Muncie, IN |
All deposit Modified whole bank P&A |
0.00% |
$(29,000) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
Yes |
N/A |
| Cover:Great Southern Bank, Springfield, MO |
All deposit whole bank with loss share |
0.00% |
$(27,995) |
80% |
80% |
N/A |
80% |
80% |
N/A |
No |
No |
N/A |
| Other Bid |
All Deposit P&A |
0.75% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
Yes |
N/A |
| Other Bid |
All deposit whole bank P&A |
0.00% |
$(45,000) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
Yes |
N/A |
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Other Bidder Names:
- First Merchants Bank, National Association, Muncie, IN
- Merchants Bank of Indiana, Lynn, IN
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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.
- There are more bids than bidders because one or more bidders submitted more than one bid.
- 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.
- 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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