Washington Federal Bank for Savings, Chicago, IL
Closing Date: December 15, 2017
Failed Bank Information for Washington Federal Bank for Savings, Chicago, IL
| Bidder | Type of Transaction | Deposit Premium % | Conforming Bid |
|---|---|---|---|
| Winning Bid: Royal Savings Bank, Chicago, IL | Insured Deposit Basic P&A | 1.26% | Yes |
| Cover Bid: First Savings Bank of Hegewisch, Chicago, IL | Insured Deposit Basic P&A | 1.05% | Yes |
| Other Bid: | All Deposit Basic P&A | -6.15% | No - 1 |
| Other Bid: | All Deposit Basic P&A | -0.62% | No - 1 |
| Other Bid: | All Deposit Basic P&A | 1.05% | Yes |
| Other Bid: | Insured Deposit Basic P&A | 1.00% | Yes |
| Other Bid: | Insured Deposit Basic P&A | 1.01% | Yes |
Conforming Bid Note:
1- A negative bid for a deposit premium is considered non-conforming.
Other Bidder Names & Locations:
First-Citizens Bank & Trust Company, Raleigh, NC
First Savings Bank of Hegewisch, Chicago, IL
Republic Bank of Chicago, Oak Brook, IL
Notes:
- The winning bidder's acquisition of the insured 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 Failed Financial Institution Bid Disclosure Policy.