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Bid Summary
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Premier American Bank
Miami, FL
Closing Date: January 22, 2010
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Winning Bidder:
Premier American Bank, N.A., Miami, FL
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Winning Bid:
All deposits, whole bank with loss share1 – Asset Discount of
$60,082,000, Deposit Premium 0%
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Other Bids:
No other bids were received.
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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. The bid for loss share was valued using a discounted cash
flow analysis for the loss share portfolio over the life of the loss share
agreement.
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Footnote:
1 As part of this transaction, the FDIC acquired a cash participation instrument. This instrument served as additional consideration for the transaction.
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