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Bid Summary

Hillcrest Bank
Naples, FL
Closing Date: October 23, 2009

Bidder Type of Transaction Deposit Premium/(Discount) % Asset Premium/(Discount) $(000) / % SF Loss Share Tranche 1 SF Loss Share Tranche 2 SF Loss Share Tranche 3 Commercial Loss Share Tranche 1 Commercial Loss Share Tranche 2 Commercial Loss Share Tranche 3 Value Appreciation Instrument Conforming Bid Linked
Winning bid and bidder:
Stonegate Bank, Fort Lauderdale, FL
All deposit with optional loan pools 0.50% 113 (1) N/A N/A N/A N/A N/A N/A No Yes Yes
Other Bids: None                        


-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.If any bid were received that would have been more costly than liquidation they have been excluded from this summary.

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

(1) Premium paid on estimated value of two loan pools purchased.

Last Updated 08/03/2011 cservicefdicdal@fdic.gov