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MidWestOne Announces Early Termination of Loss Share Agreements

Wednesday, July 19, 2017

Congratulations to MidWestOne Bank (MidWestOne) of Iowa City, Iowa for successfully terminating their FDIC loss share agreements on their five failed bank receiverships: Mainstreet Bank, Jennings State Bank, Riverview Community Bank, Commerce Bank of SouthWest Florida and The RiverBank.

As of July 14, 2017 MidWestOne will now recognize entirely all future gains, recoveries, charge-offs, losses and expenses related to the formerly covered assets with no offset to the FDIC.

DD&F served as an advisor to MidWestOne in successfully terminating their shared loss agreements with the FDIC and would like to congratulate all of the MidWestOne team. We wish you continued success!

DD&F has completed 76 buyouts so far, or 42% of all the deals completed and have saved our clients over $115MM in true-up savings.

Additionally, we have recently completed buyouts for  BBVA Compass, Birmingham, AL (on 4/12/17), Great Southern Bank, Springfield, MO (on 6/9/17), BankSouth, Greensboro, GA (on 4/12/17), First-Citizens Bank & Trust Company, Raleigh, NC (on 3/29/17), Southern Bank & Trust, Inc., Mt. Olive, NC (on 3/7/17), Oriental Bank, San Juan, PR (on 2/7/17), Mutual of Omaha Bank, Omaha, NE (on 1/30/17), Huntington Bancshares/FirstMerit Bank, Akron, OH (on 1/25/17) and IBERIABANK, Lafayette, LA (on 12/21/16).

DD&F has assisted with by far the most buyouts in the country and has assisted in 34 of the last 51 successful buyouts.

We would be happy to sit down and talk with you or your team at our expense about how we can help you get out of loss share. Even better, at no cost to you, we can evaluate your true-up and give you an estimate of how much in savings we can find.

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