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

Second Federal Savings and Loan Association of Chicago
Chicago, IL
Closing Date: July 20, 2012



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:
Hinsdale Bank and Trust Company, Hinsdale, IL
All deposit Clean P&A $100,000 N/A N/A N/A N/A N/A N/A N/A No No N/A
Cover: None N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Other bid: All deposit Clean P&A 0.00% N/A N/A N/A N/A N/A N/A N/A No No N/A
Other bid: All deposit whole bank 0.50% $(130,000) N/A N/A N/A N/A N/A N/A No No N/A 


Other Bidder Names:

Hinsdale Bank and Trust, Rosewood, IL
One PacificCoast Bank, Oakland, CA


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.

- 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.


Last Updated 08/07/2012 cservicefdicdal@fdic.gov