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Bid Summary
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TierOne Bank
Lincoln, NE
Closing Date: June 4, 2010
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| Bidder |
Type |
Asset
Discount |
Deposit
Premium |
First
Loss Tranche |
Loss
Share |
Winning – Great
Western Bank, Sioux Falls, SD |
All
Deposit Whole Bank |
2.20% |
1.50% |
0% |
Yes |
Cover
(second place) – Great Western Bank, Sioux Falls, SD |
All Deposit Whole Bank |
1.90% |
1.50% |
0% |
Yes |
Other |
All
Deposit Whole Bank |
2.85% |
0% |
0% |
Yes |
Other |
All
Deposit Whole Bank |
8.25% |
0% |
0% |
Yes |
Other |
All
Deposit Whole Bank |
14.60% |
0% |
0% |
Yes |
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Other Bidder Names:
BancFirst, Oklahoma City, OK
U.S. Bank National Association, Minneapolis, MN |
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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.
- 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 and the cover bid.
- There are more bids than bidders because one or more bidders submitted
more than one bid.
- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html.
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