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Bid Summary



Colonial Bank
Montgomery, AL
Closing Date: August 14, 2009


Winning Bidder: Branch Banking and Trust Company (BB&T), Winston-Salem, NC
Winning Bid: All deposits, whole bank with loss share – Asset Discount of $1.462 billion for loss share assets, a price of 86.1% for consumer loans not covered under loss share, and a Deposit Premium of 2.77%.


Cover (second place) Bidder: TD Bank, N.A., Portland, ME
Cover Bid: All deposits, whole bank with loss share – Asset Discount of $1.7521 billion,
Deposit Premium 2.50%.

 

Other Bidder Name:
Branch Banking and Trust Company (BB&T)

 

Other Bids:
All deposit, modified whole bank with loss share – Pool bids plus Deposit Premium of 0%.

Notes:

- 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 bids for loss share were 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 http://www.fdic.gov/about/freedom/biddocs.html




Last Updated 08/09/2011 cservicefdicdal@fdic.gov