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Bid Summary

Fort Lee Federal Savings Bank, FSB
Fort Lee, New Jersey
Closing Date: April 20, 2012



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:
Alma Bank, Astoria, NY
All Deposit P&A

1.85%

 

N/A N/A N/A N/A N/A N/A N/A No Yes N/A
Cover - North Jersey Community Bank, Englewood Cliffs, NJ All Deposit P&A 0.30% NA NA NA NA NA NA NA No Yes NA
Other Bid:None                           


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.

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



Last Updated 05/17/2012 cservicefdicdal@fdic.gov