FDIC Sells Failed Bank Assets For Pennies On The Dollar To Bank With Outstanding TARP Loans

December 22, 2010 – The FDIC closed on the sale of $279 million of assets from nine failed bank receiverships.   The winning bidder of the asset pool was Cache Valley Bank, Logan, Utah, with a purchase price of 22.2% of the unpaid principal balance of $279 million.  The failed bank assets will be placed into […]