Friday, January 16, 2015
The Federal Deposit Insurance Corporation (FDIC) recently launched a Failing Bank Acquisitions Web page. This Web page will allow institutions to better understand how the FDIC markets failing financial institutions. It applies to FDIC-insured financial institutions of any size that may be interested in acquiring a failing institution from the FDIC.
- To support the FDIC's continued mission of maintaining financial system stability and public confidence while transparently resolving failing financial institutions in an orderly manner, the FDIC launched a Web page that explains how failing financial institutions are marketed.
- The primary goal of the Web page is to educate bankers about key components associated with the process of acquiring a failing financial institution, including regulatory qualification guidance, performing due diligence, and general transaction terms.
- The Web page will allow FDIC-insured institutions interested in receiving information about acquisition opportunities to designate a point of contact (POC) or update a current POC.
- The Web page also provides an opportunity for FDIC-insured institutions to update their bidder profile by communicating state and/or asset size preferences.
- The Failing Bank Acquisitions Web page may be accessed from the FDIC's Web site at https://www.fdic.gov/buying/FranchiseMarketing/index.html.