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Bid Summary

LibertyPointe Bank
New York, NY
Closing Date: March 11, 2010


Bidder Type of Transaction Deposit Premium/(Discount) % Asset Premium/(Discount) $(000) / % First Loss Tranche $(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:
Valley National Bank, Wayne, NJ
All Deposit Whole Bank 0.15%

0

N/A

80%

95% N/A 80% 95% N/A No No Yes
Cover (second place)- Valley National Bank, Wayne, NJ All deposit whole bank with loss share 0.15% 0 $1,500 80% 95% N/A 80% 95% N/A No No Yes
Other bid

All deposit whole bank with loss share

0.15%

0

N/A

80%

95% N/A 80% 95% N/A No No Yes
Other bid All deposit whole bank with loss share 0.15%

0

N/A

80%

95% N/A 80% 95% N/A No No Yes
Other bid

All deposit whole bank with loss share

0.51%

$(17,400)

N/A 80% 95% N/A

80%

95% N/A

Yes

Yes No
Other bid

All deposit whole bank with loss share

0.51%

$(17,400)

N/A

80%

95% N/A

80%

95% N/A

No

Yes No
Other bid

All deposit whole bank with loss share

0.00%

$(22,000)

N/A 80% 95% N/A

80%

95% N/A

No

Yes Yes
Other bid

All deposit whole bank with loss share

0.00%

$(33,000)

N/A

80%

95% N/A 80% 95% N/A No Yes Yes
Other bid All deposit whole bank with loss share 0.50% $(33,000) N/A 80% 95% N/A 80% 95% N/A No Yes Yes
Other bid All deposit whole bank with loss share 0.50% $(41,000) N/A 80% 95% N/A 80% 95% N/A No Yes No


Other Bidder Names:

Manufacturers & Traders Trust Company, Buffalo, NY

New York Commercial Bank, Westbury, NY

State Bank of Long Island, Jericho, NY

Valley National Bank, Wayne, NJ

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.

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




Last Updated 10/07/2011 cservicefdicdal@fdic.gov