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Bank Failures

Bid Summary

New Liberty Bank, Plymouth, MI
Closing Date: May 14, 2010

Bidder Asset Discount Deposit Premium First Loss Tranche Type
Winning: Bank of Ann Arbor, Ann Arbor, MI 10.4955% 0% 0% All deposit whole bank with loss share
Cover (second place)- First Michigan Bank, Troy, MI 16.55% 0% 0% All deposit whole bank with loss share
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 bids. 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.
  • 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: November 20, 2020