Satilla Community Bank, St Mary's, GA
Closing Date: May 14, 2010
|Bidder||Asset Discount||Deposit Premium||First Loss Tranche||Type|
Ameris Bank, Moultrie, GA
|11.44%||0.19%||0%||All deposit, whole bank with loss share|
|Cover (second place):
Atlantic National Bank, Brunswick, GA
|15.90%||0.00%||0%||All deposit, whole bank with loss share|
- The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bids. 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 www.fdic.gov/about/freedom/biddocs.html.