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Bid Summary

The Freedom State Bank
Freedom , OK
Closing Date: June 27, 2014

Bidder Type of Transaction Deposit Premium/(Discount) % Asset Premium/(Discount) $(000) / % 100 - Performing Loans (% of BV) 200 - Non-Performing Loans (% of BV) Bid on Bank Premises Conforming Bid
Winning bid and bidder: Alva State Bank & Trust Company, Alva, OK
All Deposit Basic P&A with Optional Pools 1.00% 0% 98.00% 50.00% Yes Yes
Cover Bid:
Other Bid: All Deposit Basic P&A with Optional Pools 1.00% $0 98.00% No Bid Yes Yes
Other Bid: All Deposit Whole Bank 1.00% $(3,704) N/A N/A Yes Yes

P&A with optional loan pool bids include separate pool pricing for each selected pool.

Other Bidder Names:
Alva State Bank & Trust Company, Alva, OK
Bank of Commerce, Duncan, OK

- The winning bidders 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.

- The cover bid is the bid that: a. Is less costly than liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.

- There is no linkage between bidder names and bids, except in the case of the winning bid.

- There are more bids than bidders because one or more bidders submitted more than one bid.

- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html.

Last Updated 07/11/2014 cservicefdicdal@fdic.gov