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Bid Summary
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Nevada Commerce Bank
Las Vegas, NV
Closing Date: April 8, 2011
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| 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:
City National Bank, Beverly Hills, CA |
All deposit whole bank with loss share |
0.71% |
$ (20,455) |
80% |
80% |
N/A |
80% |
80% |
N/A |
No |
Yes |
No |
| Cover (second best) - City National Bank, Beverly Hills, CA |
All deposit whole bank with loss share |
0.71% |
$ (44,602) |
0% |
80% |
N/A |
0% |
80% |
N/A |
No |
Yes |
No |
| Other Bids: None |
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Notes:
- 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. 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
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