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Bid Summary

First Coweta Bank
Newnan, GA
Closing Date: August 21, 2009



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:
United Bank, Zebulon, GA
All deposit whole
bank with loss share
1.01% $ (20,980) 80% 95% N/A 80% 95% N/A No Yes N/A
Cover (second place): HeritageBank of the South,
Albany, GA
All deposit whole
bank with loss share
1.00% $ (28,000) 80% 95% N/A 80% 95% N/A No Yes N/A
Other Bid All deposit whole
bank with loss share
0.00% $ (34,850) 80% 95% N/A 80% 95% N/A No No N/A


Other Bidder Names:

CharterBank, West Point, GA

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. If any bids were received that would have been more costly than liquidation they have been excluded from this summary.

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








Last Updated 01/15/2013 cservicefdicdal@fdic.gov