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The FDIC Auction Process for Failed Banks
Webinar
11 AM CT
Presenter: John Adams
Duration: 1 hour
Price: $249 / Complimentary for Affiliation Members
The FDIC auction process for failed banks presents a unique opportunity for those institutions prepared to act quickly. These types of sales have not occurred en masse since the RTC days following the S&L crisis. We’ll review the landscape of distressed banks, recap the failures to date, and examine the bid process, including a look at the pricing levels from over 200 auctions since the beginning of 2009.
The FDIC changed its bid process effective April 1, 2010. We will discuss these changes and how they could affect this type of sale. The bid formulation process will be covered, including a hypothetical example involving a loss-sharing agreement. We discuss a summary of the critical, fair value accounting adjustments and the potential capital impact relating to the large one-time gain that is common with this type of acquisition.
Join us to:
- Explore the benefits and drawbacks of the FDIC failed bank auction process
- Understand loss sharing agreements and negative bids
- Examine detailed analysis of bid formulation and accounting impact, including potential one-time gain
- Study the pricing of successful bids from previous failed bank auctions involving loss sharing agreements
- Understand the merits of submitting multiple bids - with and without loss-share - when possible
- Discuss auction timeline and best practices post-acquisition
BIO: John Adams
John Adams is a Director of M&A with Sheshunoff & Co. Investment Banking. John is focused on merger and acquisition advisory services and has also worked with many of the firm’s shareholder valuation clients. His background includes buy-side and sell-side engagements, merger negotiation and structuring, financial analysis and industry research. Prior to joining Sheshunoff eight years ago, John spent four years with Lehman Brothers working in the Financial Institutions Group in New York. John has over ten years of experience in financial services, valuing financial institutions and advising clients in the mergers & acquisitions process, involving both public and private institutions, as well as equity and debt underwriting.
John regularly presents economic and M&A updates at Sheshunoff conferences and has taught at the Wisconsin Graduate School of Banking. Early in his career, he worked for a year in Asia on a project to restructure the banking sector after the Asian currency crisis of 1997.
John obtained his Masters degree in mathematics from the University of North Texas and also holds a bachelor of business administration degree in finance from the University of Texas at Austin. John is a registered representative with FINRA and holds the Series 62 and 63 licenses.
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