Guaranty Bank, Milwaukee, WI, (d/b/a BestBank in Georgia & Michigan)
Closing Date: May 5, 2017
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/ (Discount) $(000) | Optional Loan Pool (Performing SFR 1st Liens) (% of BV) | Optional Loan Pool (Performing SFR 2nd Liens, HELOCs) (% of BV) | Optional Loan Pool (Non-Performing SFR) (% of BV) | Optional Loan Pool (Student Loans) (% of BV) | Optional Loan Pool (Performing Government Guaranteed) (% of BV) | Optional Loan Pool (Non-Performing Ginnie Mae Buyout) (% of BV) | Optional Loan Pool (All ADC, CRE, C&I) (% of BV) | Optional OREO Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid and Bidder: First-Citizens Bank & Trust Company, Raleigh, NC |
All deposit Whole Bank | 0.00% | ($147,500) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | No - 1 |
| Cover Bid: Great Southern Bank |
All deposit Basic P&A with Optional Loan Pools | 0% | N/A | 76.72% | 76.72% | 76.72% | N/A | 76.72% | N/A | 76.72% | No Bid | No - 2,3,4 |
| Other Bids: | ||||||||||||
| Other: | All deposit Basic P&A with Optional Loans Pools | 0.00% | N/A | 75.00% | 75.00% | 75.00% | N/A | 75.00% | N/A | 75.00% | No Bid | No - 2,3,4 |
| Other: | All deposit Whole Bank | 0.00% | ($149,00) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
Conforming Bid Notes:
1- Requests that full service branches located in Illinois and Minnesota close after 3 months and all grocery store branches not be reopened. After the branches close, the acquirer has an option to occupy those branches for up to 180 days after
Bank closing date without any obligation to purchase or assume any leases or other obligations for the premises nor any obligation to purchase or assume any FF&E.
2- Requests that 2 full service branches in Illinois and Minnesota and 88 grocery stores branches will not reopen.
3- Excludes all securities and the majority of other assets.
4- Requests numerous non-conforming stipulations, including pre-negotiation of Corporate office leases and an option to occupy bank branch premises for up to 240 days.
Other Bidder Names & Locations:
Great Southern Bank, Springfield, MO
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.
- The cover (second best) bid is the bid that: a. Is less costly then liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
- There is no linkage between bidder names and bids, except in the case of the winning and cover bids.
- There may be more bids than bidders because one or more bidders submitted more than one bid.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html