The purpose of the FDIC is to protect depositors, nobody else. The impairments should be recognized, and if that puts the institution in a state that calls for being taken over, that is what should happen.

If the FDIC is confident in the judgment that the loans with impaired loan-to-value ratios will be paid as agreed, the FDIC can just turn them over to the acquiring institution with an agreement that the FDIC will eat any losses if/when they occur. This will insure that volunteers to take over the failing institution can be found.

If the FDIC is not confident in the judgment that the loans will be paid as agreed, it is time to flush the incompetent bankers out of the industry.