Many of PKM’s clients have become active participants in the highly technical and complicated, albeit advantageous, FDIC-assisted failed bank acquisition arena. As a market leader, PKM’s financial services professionals have significant experience assisting our clients with the many challenges presented to an acquiring institution as a part of an open transaction or FDIC-assisted transaction. We provide you with a unique perspective into the challenges associated with acquiring a failed institution as well as offer demonstrated solutions to assist you in meeting those challenges.
- Technical support for the accounting and financial reporting complexities associated with FDIC-assisted transactions.
– Accounting for business combinations (Day 1 accounting)
– Subsequent accounting for the assets acquired and liabilities
assumed (Day 2 Accounting)
- Assistance with tax issues and opportunities unique to loss share transactions.
- Utilization of data analysis techniques to validate loss share assignment for covered assets.
- Internal audit procedures required under the terms of the Purchase & Assumption Agreement.
- Interim staffing to address loss share workload balancing.