The Bank of Georgia, Peachtree City, GA
Closing Date: October 2, 2015
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) |
51 Consumer Loans (% of BV) |
100 SFR & Related Loans (% of BV) |
200 Perf CRE (% of BV) |
210 Non-Perf CRE (% of BV) |
300 C&I (% of BV) |
OREO Pool - A (% of BV) |
OREO Pool - B (% of BV) |
OREO Pool - C (% of BV) |
Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning bid and bidder:
Fidelity Bank, Atlanta, GA |
All Deposit Whole Bank | 3.05% | ($19,800) | N/A | N/A | N/A | N/A | N/A | 97.31% | 62.91% | 48.37% | Y |
| Cover Bid: First-Citizens Bank & Trust Company |
All Deposit Whole Bank | 0.00% | ($13,500) | N/A | N/A | N/A | N/A | N/A | 50.00% | 50.00% | 50.00% | Y |
| Other Bid: | All Deposit Whole Bank | 3.05% | ($19,800) | N/A | N/A | N/A | N/A | N/A | Waive | Waive | Waive | Y |
| Other Bid: | All Deposit Whole Bank | 0.00% | ($30,000) | N/A | N/A | N/A | N/A | N/A | 100.00% | 100.00% | 100.00% | Y |
| Other Bid: | All Deposit Whole Bank | 0.00% | ($18,000) | N/A | N/A | N/A | N/A | N/A | Waive | Waive | Waive | Y |
| Other Bid: | All Deposit Basic P&A with Optional loan pools | 0.00% | N/A | 87.55% | 87.55% | 87.50% | 87.55% | 87.55% | Waive | Waive | Waive | N - 1,2 |
| Other Bid: | All Deposit Basic P&A with Optional loan pools | 0.00% | N/A | 87.50% | 87.50% | 87.50% | 87.50% | 87.50% | Waive | Waive | Waive | Y |
| Other Bid: | All Deposit Whole Bank | 0.00% | ($23,970) | N/A | N/A | N/A | N/A | N/A | Waive | Waive | Waive | Y |
| Other Bid: | All Deposit Basic P&A with Optional loan pools | 0.00% | N/A | N/A | N/A | N/A | N/A | N/A | Waive | Waive | Waive | N - 3 |
| Other Bid: | All Deposit Basic P&A with Optional loan pools | 0.00% | N/A | N/A | N/A | N/A | N/A | N/A | 34.00% | 34.00% | 34.00% | N - 3 |
| Other Bid: | All Deposit Whole Bank | 1.30% | ($38,600) | N/A | N/A | N/A | N/A | N/A | Waive | Waive | Waive | Y |
| Other Bid: | All Deposit Whole Bank | 0.00% | ($46,413) | N/A | N/A | N/A | N/A | N/A | Waive | Waive | Waive | Y |
| Other Bid: | All Deposit Whole Bank | 1.01% | ($72,270) | N/A | N/A | N/A | N/A | N/A | 75.00% | 30.00% | Waive | Y |
| Other Bid: | All Deposit Whole Bank | 0.50% | ($83,825) | N/A | N/A | N/A | N/A | N/A | Waive | Waive | Waive | Y |
Conforming Bid Notes:
1- Requests a longer option to purchase any of the remaining Bank branches.
2- Requests the option to remain in any premises they do not purchase for up to 365 days from the date of Bank closing.
3- Requests the purchase of only $89.9
million in loans from the five optional loan pools totaling $166.1 million at 95 percent of book value.
Other Bidder Names & Locations:
Bank of the Ozarks, Little Rock, AR
CB&S Bank, Russellville, AL
CharterBank, West Point, GA
Fidelity Bank, Atlanta, GA
First-Citizens Bank & Trust Company, Raleigh, NC
State Bank and Trust Company, Macon, GA
State Bank
of Texas, Dallas, TX
United Bank, Zebulon, GA
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.
- The cover bid is the bid that: a. Is less costly than 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 are 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