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Bank Failures

Bid Summary

Premier American Bank, Miami, FL
Closing Date: January 22, 2010

Winning Bidder:

Premier American Bank, N.A., Miami, FL

Winning Bid:

All deposits, whole bank with loss share1 – Asset Discount of $60,082,000, Deposit Premium 0%

Other Bids:

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.
  • For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html


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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Last Updated: November 19, 2020