bank bidding

[Jan G]

Hi people,
Found a property listed in the legal section of our newspaper, around the corner from my house, at the time of auction foreclosed on by First Bank.
I went to the courthouse steps and placed a bid, was the high bidder. By the end of the 10 days, there was another bidder. Three months later I find the property is owned by First Troy SPE, LLC
From the internet -
"First Bancorp is a bank holding company. The Company’s principal activity is the ownership and operation of First Bank (the Bank), a state-chartered bank. As of December 31, 2010, the Bank had two wholly owned subsidiaries, First Bank Insurance Services, Inc. (First Bank Insurance) and First Troy SPE, LLC. "

Did the bank just use the auction as a way to keep the house? There is no way I can keep bidding against the bank? What is going on?
Do I approach them with another (higher) offer?
Jan