Bid Summary
Crescent Bank and Trust Company, Jasper, GA
Closing date: July 23, 2010
| Bidder | Type | Asset Discount $ | Deposit Premium % | Loss Share |
|---|---|---|---|---|
| Winning: Renasant Bank, Tupelo, MS |
All Deposit Modified Whole Bank | $94,544,000 | 1% | Yes |
| Cover Bid (second place): Renasant Bank, Tupelo, MS |
All Deposit Modified Whole Bank | $86,393,000 | 0% | Yes |
| Other Bid | All Deposit Modified Whole Bank | $109,940,000 | 0% | Yes |
| Other Bid | All Deposit Modified Whole Bank | $145,000,000 | 0% | Yes |
Other Bidder Names:
Bank of the Ozarks, Little Rock, AR
First-Citizens Bank & Trust Co, Raleigh, NC
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 bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement. If any bids were received that would have been more costly than liquidation, they have been excluded from this summary.
- The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid and cover bid.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html