Lydian Private Bank, Palm Beach, FL
Closing Date: August 19, 2011
|Bidder||Type of Transaction||Deposit Premium/(Discount) %||Asset Premium/(Discount) $(000)||SF Loss Share Tranche 1||SF Loss Share Tranche 2||SF Loss Share Tranche 3||Commercial Loss Share Tranche 1||Commercial Loss Share Tranche 2||Commercial Loss Share Tranche 3||Value Appreciation Instrument||Conforming Bid||Linked|
|Winning bid and bidder: Sabadell United Bank, National Association, Miami, FL||All deposit whole bank with loss share||0.00%||$(113,287)||80%||0%||80%||80%||0%||80%||No||Yes||Yes|
|Cover: Iberiabank, Lafayette, LA||All deposit modified whole bank with loss share||0.5%||$(173,681)||80%||0%||80%||80%||0%||80%||No||No||N/A|
|Other Bid||All deposit whole bank with loss share||0.00%||$(114,635)||80%||0%||80%||80%||0%||80%||No||Yes||N/A|
|Other Bid||Whole bank||0.00%||$(354,020)||N/A||N/A||N/A||N/A||N/A||N/A||No||Yes||Yes|
|Other Bid||Whole bank||0.00%||$(357,392)||N/A||N/A||N/A||N/A||N/A||N/A||No||Yes||N/A|
Omitted from this disclosure.
- 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. 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.
- Because the three Other Bids were submitted by one bidder, the Other Bidder name is omitted from this disclosure.
- The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid and the cover bid.
- For more information on the bid disclosure policy, see www.fdic.gov/about/freedom/biddocs.html