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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Bid Summary

The Park Avenue Bank, New York, NY
Closing Date: March 12, 2010

Winning Bidder:

Valley National Bank, Wayne, NJ

Winning Bid:

All deposits, whole bank with loss share – Asset Discount of $20.228 million, Deposit Premium equal to the lesser of 0.15% or $688,012, plus Equity Appreciation Instrument.

Cover (second place) Bidder:

Valley National Bank, Wayne, NJ

Cover Bid:

All deposits, whole bank with loss share – Asset Discount of $20.328 million, Deposit Premium equal to the lesser of 0.15% or $688,012.

Other Bidder Names:

Manufacturers & Traders Trust Company, Buffalo, NY
New York Community Bank, Westbury, NY
State Bank of Long Island, Jericho, NY

Other Bids:

All deposits, whole bank with loss share – Asset Discount of $19.728 million, Deposit Premium 0.15%.
All deposits, whole bank with loss share – Asset Discount of $21.228 million, Deposit Premium 0.15%, plus Equity Appreciation Instrument.
All deposits, whole bank with loss share – Asset Discount of $37.985 million, Deposit Premium 0.33%.
All deposits, whole bank with loss share – Asset Discount of $46.560 million, Deposit Premium 0%.
All deposits, whole bank with loss share – Asset Discount of $72 million, Deposit Premium 0%.

Notes: