Bid Summary
Towne Bank of Arizona
Mesa, AZ
Closing date: May 7, 2010
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Winning Bidder:
Commerce Bank of Arizona, Tucson, AZ
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Winning Bid:
All deposits, whole bank with loss share – Asset Discount of 18.40%; Deposit Premium of 0.30%. |
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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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