|
| |
| |
Bid Summary
|
|
First Southern National Bank
Statesboro, GA
Closing Date: August 19, 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:
HeritageBank of the South Albany, GA |
All deposit whole bank with loss share |
1.00% |
$(16,300) |
80% |
80% |
N/A |
80% |
80% |
N/A |
No |
Yes |
N/A |
| 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 modified whole bank with loss share |
0.00% |
$(32,400) |
80% |
80% |
N/A |
80% |
80% |
N/A |
No |
Yes |
N/A |
| Other Bid |
All Deposit Whole Bank |
1.00% |
$(53,400) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
Yes |
N/A |
| Other Bid |
All Deposit Clean Bank |
0.00% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
No |
No |
N/A |
|
|
Other Bidder Name: |
|
|
Bank of the Ozarks, Little Rock, AR
Heritage Bank of the South, Albany, 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.
- 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.
- 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
|
|
|
