WASHINGTON, DC-The Federal Deposition Insurance Corp. is putting to bed a series of structured sales transactions with various private equity and banking interests. As is typical of these deals, the government agency is retaining a 60% stake in the newly formed LLC companies that were created to hold the assets. The FDIC did not return a call to GlobeSt.com in time for publication.

Cache Valley Bank in Logan, UT was the winning bidder of one pool called Western Residential Acquisition and Development with a purchase price of approximately 22.22% of the unpaid principal balance of nearly $279 million from nine failed bank receiverships. The FDIC offered 1:1 leverage financing to the LLC, which will issue a purchase money note to the FDIC in the original principal amount of $30.6 million. 

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