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Bid Summary

Towne Bank of Arizona
Mesa, AZ
Closing Date: May 7, 2010



Winning Bidder: Commerce Bank of Arizona, Tucson, AZ

Winning Bid: All deposits, whole bank with loss share – Asset Discount of 18.40%; Deposit Premium of 0.30%.

No other bids were received.

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.


Last Updated 07/27/2010 cservicefdicdal@fdic.gov