An efficient, cost-effective primer on the FDIC-assisted transaction process

Schiff Hardin offers a customized, flat fee service, called P&A University, which provides a primer for clients eager to quickly and efficiently prepare to be successful in FDIC-assisted transactions.

FDIC-related experience within law firms is not all the same. Potential bidders need a firm whose experience goes beyond FDIC-related litigation. Schiff Hardin's P&A University offers clients a cost-effective option for entities lacking previous experience with FDIC-assisted transactions. This flat fee service helps take the guesswork out of budgeting for bid preparation costs and can be an efficient tool for strategically heightening chances of bidding success, by providing a better understanding of the post-closing obligations.

Service Offering

Our bundled, flat fee P&A University service offering includes:

• Counseling time via phone and email
• FDIC P&A 101 Class: A one-hour introduction to the P&A and the assuming institution's obligations under it, to be conducted by Schiff  Hardin for the client team, via in-person meeting, video conference or teleconference
• Full suite of P&A tutorial materials including:
  • Pre-closing timetable
  • Post-closing timetable
  • Action items/deliverable matrix
  • P&A summary document Q&A reference materials

Bank Closing Activity

Schiff Hardin has been involved in many FDIC failed bank bidding processes since the FDIC's bank closing activity began in earnest in the fourth quarter of 2008. We have been involved in transactions both with and without loss-sharing components. Our clients have included:

• Privately held and publicly traded financial institutions
• Small community banks bidding on a single failed bank
• Large institutions bidding on multiple targets
• Private equity firms
• Investor groups
• Inflatable banks

Pricing

We offer the basic suite of services at a negotiable fixed rate. Additional services are available at standard billable rates.