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Bid Summary

Temecula Valley Bank
Temecula, CA
Closing Date: July 17, 2009



Winning Bidder: First-Citizens Bank & Trust Company, Raleigh, NC

Winning Bid: All deposits, whole bank with loss share Asset Discount of $135 million, Deposit Premium 0%.

Other Bids:

None

Notes:

- The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bid. 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.

- Although two bids were received for this institution, the second bid would have been more costly than liquidation. It has therefore been excluded from this summary.

- 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