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Bid Summary
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Nexity Bank
Birmingham, AL
Closing Date: April 15, 2011
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| 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:
AloStar Bank of Commerce
Birmingham, AL |
All deposit whole bank with loss share |
0.00% |
$(102,000)
|
80% |
80% |
80% |
80% |
80% |
80% |
No |
No |
N/A |
| Cover (second place): AloStar Bank of Commerce, Birmingham, AL |
All deposit whole bank with loss share
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0.00% |
$(110,000) |
80% |
50% |
80% |
80% |
50% |
80% |
No |
No |
N/A |
| Other bid |
All deposit whole bank with loss share
|
0.00% |
$(107,000) |
80% |
80% |
80% |
80% |
80% |
80% |
Yes |
No |
N/A |
| Other bid |
All deposit whole bank with loss share
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0.00% |
$(115,000) |
80% |
50% |
80% |
80% |
50% |
80% |
Yes |
No |
N/A |
| Other bid |
All deposit whole bank with loss share
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0.00% |
$(121,000) |
80% |
0% |
80% |
80% |
0% |
80% |
No |
Yes |
N/A |
| Other bid |
All deposit whole bank with loss share
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0.00% |
$(126,000) |
80% |
0% |
80% |
80% |
0% |
80% |
Yes |
Yes |
N/A |
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Other Bidder Names:
Omitted from this disclosure
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.
- Because the four "Other bids" were submitted by one bidder, the other bidder name is omitted from this disclosure.
- 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.
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