Habersham Bank, Clarkesville, GA
Closing Date: February 18, 2011
Bidder | Type of Transaction | Deposit Premium % | 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: SCBT National Association, Orangeburg, South CA | All deposit modified whole bank with loss share | 0.00% | $ (38,290) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
Cover - First Citizens Bank & Trust Company, Columbia, SC | All deposit modified whole bank with loss share | 0.50% | $ (42,000) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
Other bid | All deposit modified whole bank with loss share | 0.00% | $(39,090) | 80% | 80% | N/A | 80% | 80% | N/A | Yes | Yes | N/A |
Other bid | All deposit modified whole bank with loss share | 0.00% | $(54,900) | 80% | 80% | N/A | 80% | 80% | N/A | No | No | N/A |
Other Bidder Names:
Citizens Bank and Trust Company, Columbia, SC
Bank of the Ozarks, Little Rock, AR
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. Bids for loss share, if any, were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement. If any bids were received that would have been more costly than liquidation they have been excluded from this summary.
- The cover bid is the least costly bid after excluding all bids submitted by the winning bidder.
- The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid and the cover bid.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html