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Bank Failures

Bid Summary

The Woodbury Banking Company, Woodbury, GA
Closing Date: August 19, 2016

Bidder Type of Transaction Deposit Premium % Asset Premium/ (Discount) $(000) Optional Loan Pool (Performing) (% of BV) Optional Loan Pool (Non-Performing) (% of BV) Optional OREO Pool (% of BV) Conforming Bid
Winning Bid:
United Bank, Zebulon, GA		 All deposit Whole Bank 0.00% ($974) N/A N/A No Bid Yes
Cover Bid:
First Peoples Bank		 All deposit Whole Bank 0.00% ($2,475) N/A N/A No Bid Yes
Other Bids              
Other All deposit Whole Bank 0.00% ($974) N/A N/A 35.16% Yes
Other All deposit Whole Bank 0.00% ($2,275) N/A N/A No Bid Yes
Other All deposit Whole Bank 0.00% ($2,525) N/A N/A No Bid No - 1
Other All deposit Whole Bank 0.00% ($2,825) N/A N/A No Bid Yes
Other All deposit Whole Bank 0.00% ($2,825) N/A N/A 24.20% Yes
Other All deposit Whole Bank 0.25% ($5,187) N/A N/A 25.00% Yes
Other All deposit Whole Bank 0.25% ($5,187) N/A N/A No Bid Yes

Conforming Bid Note:

1- Requests to purchase the branch at $230,000, which is below the fixed price offered.

Other Bidder Names & Locations:

Calumet Bank, Lagrange, GA
First Peoples Bank, Pine Mountain, GA
Southern States Bank, Anniston, AL

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 cover bid is the bid that: a. Is less costly then liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
  • There is no linkage between bidder names and bids, except in the case of the winning bid.
  • There may be more bids than bidders because one or more bidders submitted more than one bid.
  • For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html

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Last Updated: August 3, 2021