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Bank Failures

Bid Summary

Peoples First Community Bank, Panama City, FL
Closing Date: December 18, 2009

Winning Bidder:

Hancock Bank, Gulfport, MS

Winning Bid:

All deposits, modified whole bank with loss share – Asset Discount of $236 million, Deposit Premium 1%

No other bids were received.

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 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 19, 2020