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Bid Summary

First Security National Bank
Norcross, GA
Closing Date: December 4, 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:
State Bank & Trust Company, Macon, GA
All deposit whole bank with loss share 0.00% $(10,700) 80% 95% N/A 80% 95% N/A No Yes No
Cover (second place): BankSouth, Greensboro, GA All deposit whole bank with loss share 0.20% $(14,338) 80% 95% N/A 80% 95% N/A No Yes No
Other bid All deposit whole bank with loss share 0.00% $(10,700) 80% 95% N/A 80% 95% N/A No Yes  Yes
Other bid All deposit whole bank with loss share 0.00% $(10,700) 80% 95% N/A 80% 95% N/A No Yes  Yes
Other bid All deposit whole bank with loss share 0.00% $(10,700) 80% 95% N/A 80% 95% N/A No Yes  Yes
Other bid All deposit whole bank with loss share 0.50% $(15,388) 80% 95% N/A 80% 95% N/A No Yes No
Other bid All deposit whole bank with loss share 0.75% $(19,424) 80% 95% N/A 80% 95% N/A No Yes  Yes
Other bid All deposit whole bank with loss share 0.75% $(19,424) 80% 95% N/A 80% 95% N/A No Yes No


Other Bidder Names:

Mutual of Omaha Bank, Omaha, Nebraska
State Bank & Trust Company, Macon, Georgia
Woodforest National Bank, Houston, Texas

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.

- 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 and the cover bid.

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



Last Updated 06/16/2010
cservicefdicdal@fdic.gov