First Southern Bank, Batesville, AR
Closing Date: December 17, 2010
| 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: Southern Bank, Poplar Bluff, Missouri | All deposit whole bank | 0.25% | $ (17,500) | NA | NA | NA | NA | NA | NA | No | No(1) | N/A |
| Cover Summit Bank, Arkadelphia, Arkansas | All deposit whole bank with loss share | 0.00% | $ (12,200) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.25% | $ (6,600) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.25% | $ (7,500) | 80% | 50% | N/A | 80% | 50% | N/A | No | No(2) | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $ (18,000) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $ (20,000) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Other bid | All deposit whole bank | 0.00% | $ (31,600) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
(1) Bid excluded all securities.
(2) Bid incorporated modified loss sharing percentages and thresholds.
Other Bidder Names:
Bank of the Ozarks, Little Rock, AR
Centennial Bank, Conway, AR
Simmons First National Bank, Pine Bluff, AR
Southern Bank, Poplar Bluff, 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. 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. 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.
- There are more bids than bidders because one or more bidders submitted more than one bid.
- 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 cover bid.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html