Each depositor insured to at least $250,000 per insured bank



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Bid Summary

First BankAmericano
Elizabeth, NJ
Closing Date: July 31, 2009



Winning Bidder: Crown Bank, Brick, NJ

Winning Bid: All deposits, whole bank – Asset Discount of $17.8 million, Deposit Premium of 0%.

Cover (second place) Bidder: Crown Bank, Brick, NJ

Cover Bid: Insured deposits, whole bank P&A – Asset Discount of $17.783 million,
Deposit Premium of 0%.

Other Bidder Names:

Oritani Bank, Township of Washington, NJ
Valley National Bank, Wayne, NJ

Other Bids:

Insured deposits, whole bank with loss share – Asset Discount of $8.4 million, Deposit Premium 1.0%.

All deposits, whole bank with loss share – Asset Discount of $8.5 million, Deposit Premium 0.370%.

All deposits, whole bank with loss share – Asset Discount of $9.95 million, Deposit Premium 2.5%.

Insured deposits, whole bank – Asset Discount of $18.2 million, Deposit Premium 0%.

Notes:

- The winning bidder’s acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bids. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.

- The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid and the cover bid.

- There are more bids than bidders because one or more bidders submitted more than one bid.

- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html




Last Updated 08/09/2011 cservicefdicdal@fdic.gov