Each depositor insured to at least $250,000 per insured bank

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Bid Summary

First Priority Bank
Bradenton, FL
Closing date: August 1, 2008

Winning Bid: SunTrust Bank, Atlanta, GA for Clean Purchase and Assumption, Insured Deposits Only - Deposit Premium of 0%, together with LNV Corporation, Plano, TX bid for optional loan pool.

No other conforming bids were received


- The winning bidder’s acquisition of the insured 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.

Last Updated 08/27/2010 cservicefdicdal@fdic.gov