|
| |
| |
Bid Summary
|
|
Heritage Banking Group
Carthage, MS
Closing Date: April 15, 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:
Trustmark National Bank
Jackson, MS |
All deposit whole bank with loss share |
0.15% |
$ (23,100) |
80% |
80% |
N/A |
80% |
80% |
N/A |
No |
Yes |
N/A |
| Cover: Progressive Bank, Winnsboro, LA |
All deposit whole bank with loss share
|
0.00% |
$ (31,000) |
80% |
80% |
N/A |
80% |
80% |
N/A |
No |
Yes |
N/A |
| Other Bids: 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 least costly bid after excluding all bids submitted by the winner bidder.
- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html
|
|
|
