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Bid Summary

Covenant Bank
Chicago , IL
Closing Date: February 15, 2013



Bidder Type of Transaction Deposit Premium/(Discount) % Asset Premium/(Discount) $(000) / % SF Loss Share Tranche 1 SF Loss Share Tranche 2 SF Loss Share Tranche 3 Commercial Loss Share Tranche 1 Commercial Loss Share Tranche 2 Commercial Loss Share Tranche 3 Value Appreciation Instrument Conforming Bid Linked
Winning bid and bidder:
Liberty Bank and Trust Company, New Orleans, LA
All deposit whole bank 0.00% $(18,900) N/A N/A N/A N/A N/A N/A No Yes N/A
Cover Bid: none                          
Other Bid   All deposit P&A -3.25% N/A N/A N/A N/A N/A N/A N/A No No N/A
Other Bid   All deposit whole bank 0.25% $(15,936) N/A N/A N/A N/A N/A N/A No No N/A
Other Bid   All deposit whole bank 0.25% $(21,101) N/A N/A N/A N/A N/A N/A No No N/A
Other Bid   All deposit whole bank 0.00% $(21,900) N/A N/A N/A N/A N/A N/A No Yes N/A
Other Bid   All deposit whole bank 0.25% $(22,129) N/A N/A N/A N/A N/A N/A No No N/A


Other Bidder Names:

- Liberty Bank and Trust Company, New Orleans, LA
- Seaway Bank, Chicago, IL
- Urban Partnership Bank, Chicago, IL

Notes:

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

- The cover bid is the bid that: a. Is less costly than liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.

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

- 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.

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






Last Updated 03/04/2013 cservicefdicdal@fdic.gov