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



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Bid Summary

Premier American Bank
Miami, FL
Closing Date: January 22, 2010



Winning Bidder: Premier American Bank, N.A., Miami, FL

Winning Bid: All deposits, whole bank with loss share1 – Asset Discount of $60,082,000, Deposit Premium 0%

Other Bids:

No other bids were received.

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.



Footnote:

1 As part of this transaction, the FDIC acquired a cash participation instrument. This instrument served as additional consideration for the transaction.











Last Updated 04/05/2010 cservicefdicdal@fdic.gov