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



Home > Industry Analysis > Failed Banks > Failed Bank List > Failed Bank Information > Bid Summary



 
 
Bid Summary

CreekSide Bank
Woodstock, GA
Closing Date: September 2, 2011



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:
Georgia Commerce Bank, Atlanta, GA
All deposit whole bank with loss share 0.00% $(11,447) 80% 80% NA 80% 80% NA No Yes Yes
Cover: None N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Other Bid All deposit whole bank with loss share 0.00% $(14,000) N/A N/A N/A 80% 80% N/A No Yes Yes
Other Bid All deposit whole bank with loss share 0.00% $(14,500) N/A N/A N/A 80% 80% N/A No Yes No
Other Bid All deposit whole bank with loss share 0.00% $(15,594) 80% 80% N/A 80% 80% N/A No Yes No
Other Bid All deposit whole bank with loss share 0.00% $(17,487) 80% 80% N/A 80% 80% N/A No Yes Yes
Other Bid All deposit whole bank with loss share 0.00% $(29,900) 80% 80% N/A 80% 80% N/A No Yes Yes


Other Bidder Names:
Bank of the Ozarks, Little Rock, AR
Charter Bank, West Point, GA
Fidelity Bank, Atlanta, GA
Georgia Commerce Bank, Atlanta, 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.

- 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 09/06/2012 cservicefdicdal@fdic.gov