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Bid Summary
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Peoples First Community Bank
Panama City, FL
Closing Date: December 18, 2009
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Winning Bidder:
Hancock Bank, Gulfport, MS
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Winning Bid:
All deposits, modified whole bank with loss share – Asset Discount of $236
million, Deposit Premium 1% |
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No other bids were received.
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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 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.
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